Biggest US mortgage lender United Wholesale Mortgage lost $600 million on rate bets and needed a rescue deal from Oaktree.
Company suspended common-stock dividends and shares dropped about 35 percent in one day.
Credit card balances rose another $21 billion to $1.26 trillion in the latest quarter.
Home equity lines of credit rose $13 billion and sit $142 billion above their 2022 low.
Silicon Valley median single-family home sold for $1.98 million.
Only 0.1 percent of homes sold under $500,000.
Top 10 percent of residents control 75 percent of the region’s $1.17 trillion in liquid wealth.
Bottom half of households hold less than 1 percent.
Analysts warn the US is rolling over $6 trillion in debt every three months while running the worst peacetime deficit in history.
🇺🇸 U.S. consumer sentiment has fallen to a 74 year low.
Consumer sentiment is now worse than the depths of the 2020 lockdowns, the 2008 financial crisis and the 1980s inflation crisis when interest rates were 18%
All of this is happening while the stock market is at all time… https://t.co/GBJy4VUGQi pic.twitter.com/dBDoiVicqa
— Financelot (@FinanceLancelot) August 10, 2026
Arizona economist warns credit card delinquency rates approaching pre-2008 crisis levels
U of A professor Evan Taylor says the economy faces mounting pressure from rising debt and a $600M loss in SNAP benefits.
Rising credit card delinquency rates are flashing a warning sign for the U.S. economy, University of Arizona economist Evan Taylor said Monday.
“Credit card delinquency rates have gone up quite a bit over the last couple of years,” Taylor told KTAR News 92.3 FM’s Arizona’s Morning News. “They’re reaching sort of the highs that we saw right before the financial crisis.”
Taylor, an associate professor at the Eller College of Management, said the trend does not guarantee an economic downturn but called it a red flag.
“I’m not saying we’re heading towards a huge crisis or anything like that. But certainly, those credit card delinquency rates are a warning sign for the economy,” he said.
U.S. credit card debt reportedly reached a record $1.33 trillion earlier this year.
The financial strain hits harder for Arizona’s most vulnerable.
Prices are falling.
It's not just Florida and Texas anymore. pic.twitter.com/ecx6Cc7nZb
— Jon Brooks (@jonbrooks) August 11, 2026
The first Northeast housing market is starting to crack…
And it's Boston.
Inventory is spiking, hitting 1,800+ listings in Suffolk County.
That's a 62% supply increase since 2023.
Meanwhile, Boston sales are running about 17% below the long-term norm.
The problem is… pic.twitter.com/Tq66VVJKvP
— Nick Gerli (@nickgerli1) August 10, 2026
The ingredients are coming together for a US financial crisis
https://www.telegraph.co.uk/business/2026/08/11/ingredients-coming-together-us-fiscal-financial-crisis/
America’s Mortgage King Lost $600 Million and Needed a Rescue
https://www.wsj.com/finance/americas-mortgage-king-lost-600-million-and-needed-a-rescue-ab39465f
As Credit Card Debt Mounts, Home Becomes a Piggy Bank
https://www.nytimes.com/2026/08/11/business/home-equity-credit-card-debt.html