Word: rates
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...whether or not they will buy remains an open, and crucial, question. Even though Chinese are becoming wealthier, they are actually saving a greater percentage of that new wealth. Cornell University economist Eswar Prasad figures that China's average urban household saving rate reached 28% of disposable income in 2008 - 11 percentage points higher than in 1995. As a result, the role consumer spending plays in China's economy continues to head in the wrong direction. Private consumption accounted for a mere 35% of GDP in 2008, down from 46% in 2000. China's ratio stands at about half that...
...that the riskiest loans in the market are finding their way to the FHA since it requires only a 3.5% down payment. Comparing FHA loans with a subset of those made by Fannie Mae (not a perfect analogy, considering that the FHA pretty much backs only 30-year fixed-rate loans), Pinto figures that the FHA will ultimately need tens of billions of dollars of outside funding to help cover its losses...
Last April, we found out that the acceptance rate for the class of 2013 was about 7 percent. That’s a number to make even some of us upperclassmen feel insecure. (Back in our day, we were admitted at the embarrassingly bloated rate of about 9 percent. Good thing we managed to slip in when we could.) These days, we wonder, could there be a statistically more impossible dream than getting into Harvard...
...observed this week that it was actually harder to get a job at Manhattan’s newest Apple Store (located on the Upper West Side) than it was to secure a place in Harvard’s latest freshman class. The store’s acceptance rate: 2 percent...
...Insider admitted that this apples-to-oranges comparison was made purely for entertainment purposes. Still, it inspired us to dig up some other statistics to put Harvard’s acceptance rate in perspective. (We didn’t make these up, we swear...