http://www.ritholtz.com/blog/2009/08/new-home-sales-4/ Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media Tue, 14 Feb 2012 15:29:45 +0000 hourly 1 http://wordpress.org/?v=3.0.5 http://www.ritholtz.com/blog/2009/08/new-home-sales-4/comment-page-1/#comment-209082 Novemberrain Wed, 26 Aug 2009 19:57:38 +0000 http://www.ritholtz.com/blog/2009/08/new-home-sales-4/#comment-209082 The unemployment rate in the nation, which stands at 9.7% currently, may even increase to alarming double digit number making the financial situation even worse for the borrowers to repay. The layoffs of many workers have been permanent and hence, their hopelessness in recovery of the jobs or helplessness to repay mortgage over time looks bleak and they resort to foreclosure than choosing to invest or borrow more money on something that they are not sure whether they would be able to afford in the long run. With the rise in unemployment rates and inability of the helpless borrowers to repay the loans, mortgage delinquencies are on the rise. Read More: <a href="//www.housingnewslive.com/articles/reasons-housing-market-going-down.php”" rel="nofollow"> http://www.housingnewslive.com/articles/reasons-housing-market-going-down.php</a> The unemployment rate in the nation, which stands at 9.7% currently, may even increase to alarming double digit number making the financial situation even worse for the borrowers to repay. The layoffs of many workers have been permanent and hence, their hopelessness in recovery of the jobs or helplessness to repay mortgage over time looks bleak and they resort to foreclosure than choosing to invest or borrow more money on something that they are not sure whether they would be able to afford in the long run.
With the rise in unemployment rates and inability of the helpless borrowers to repay the loans, mortgage delinquencies are on the rise.
Read More: http://www.housingnewslive.com/articles/reasons-housing-market-going-down.php

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