Chillin' out till it needs to be funded
The December data is exactly $19.7 bln again this month after a $20 bln jump last month with $14 bln in Auto and $5.6 bln in revolving credit. The December jump in revolving credit is $2.8 bln, a little lower comparitively which should be a breather in the continuing 21% individual Debt to income ratios after a 25% peak consistently during the early part of the decade till 2007.
The pick up in Auto sales remained the biggest story of 2011 with a $16.6 bln jump in non revolving credit in December, leading the consumer economy recovery and raising hopes for housing as well.
Builder Standard Pacific just reported a 44% jump in New Orders