More proof buyers credit and bank balance sheets are improving:
Regulators report that consumers keep improving how they manage their credit card payments, with fewer customers in July defaulting or making late payments compared with the previous month. On-time payments have been rising the last several months for many major card issuers. “Figures show continued improvement in Americans’ ability to pay down their credit cards” said Fitch Ratings. Charge-off rates—the share of outstanding balances that the companies have given up recovering fell in July. Hopefully this good news will increase the pent up demand going forward and late this year and 2011 will be the start of the come back in real estate sales.