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16 THE FUTURE OF THE 'LATE-CYCLE' ECONOMY Default risk was up in Q 3, according to the Default Risk Index from University Financial Associates (UFA). According to the Q 3 2018 Index, default risk rose by five points to an index score of 106. UFA noted that defaults on loans being originated at the time were expected to be six percent higher than the average of similar loans originated in the 1990s, due solely to the local and national economic environments. e takeaway for investors and lenders, according to UFA, was that, despite favorable conditions for investors and lenders, continuing political uncertainty and increases in interest rates could elevate mortgage risks in the near future. "Although house-price forecasts have improved slightly, we would now characterize the economy as a 'late-cycle' economy where risks are elevated," said Dennis Capozza, Professor Emeritus of Finance in the Ross School of Business at the University of Michigan, and a founding principal of UFA. "In some local markets, including the important California housing market, UFA's real house- price forecasts turn negative within two years. Watchful waiting is appropriate at this time." e August 2018 S&P/Experian Consumer Credit Default Indices was also up by two basis points but painted a more positive picture. David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices, noted that this index rate was an indicator of a relatively stable environment. "Recent economic reports point to continued stability in consumer credit default rates," Blitzer said. "A review of economic statistics covering the consumer economy is favorable. Job creation continues at about 200,000 per month with the unemployment rate at just below 4 percent and wage gains are approaching a 3 percent annual rate. While jobs and incomes advance, the spending side is showing modest retail sales growth and auto and home sales are flat to down. ese trends favor stable default rates in the near term." ON THE WEB WEBSITES TO GET TO KNOW. ere are millions of useful apps and websites out there, but sometimes they just won't work for you for whatever reason. ere are often alternatives, and alternativeTo can help you find them. e site crowdsources recommendations for alternatives to popular apps and programs such as YouTube, PhotoShop, and Microsoft Office. e homepage includes an updating news feed tracking developments related to these name-brand versions, the search feature lets you find comparable substitutes, and there's even a section tracking recently discontinued apps. Sometimes there's just no substitute for the original, but in our fast- evolving world, that's likely to be the exception rather than the rule. Online video has become an integral part of most of our daily lives. But sometimes you want to save a video for later, and that video simply won't cooperate. If the issue relates to format, ClipConverter has got your back. ClipConverter allows simple, straightforward conversion between the most popular video and audio formats. e fast and free online converter can currently tackle videos from popular services such as YouTube, Vimeo, Facebook Video, and others. It's as simple as pasting in the video's URL, selecting the format you want, and hitting the button. e conversion may take a few minutes, but there are always more cat videos to watch. Difference Between is an exhaustive compendium dissecting the differences between similar things. Want to know how Bitcoin is different from the similar cryptocurrency Ethereum? ere's an article about that. Having trouble keeping track of the latest investment terminology? Difference Between can go into detail. With topics divided into subcategories such as Business, Technology, Science, Objects, and Language, Difference Between could mean the difference between impressing a colleague or embarrassing yourself in front of the CEO. You can even sign up to receive emails outlining new comparisons each day. Maybe now you'll finally stop mixing up "insure" and "ensure." CLIPCONVERTER.CC 2 ALTERNATIVETO.NET 1 DIFFERENCEBETWEEN.NET 3