Chilling statistics

User Forum Topic
Submitted by cv2 on November 14, 2008 - 12:17pm

I come across this article on the announced layoffs:

http://www.cnbc.com//id/27717507?__source=yahoo|headline|quote|text|&par=yahoo

With all the layoffs, people will be forced out of their homes. The bailout is for people who is upside down but with jobs. We are seeing here is a new driving force in foreclosures. Actually this is the driving force in a normal housing downturn. Of course the current downturn is different but it smells some familiarity.

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Amylin wasn't on the list,
Submitted by jpinpb on November 14, 2008 - 1:08pm.

Amylin wasn't on the list, yet there have been some cuts going by the other thread.

CA is officially close to 8%
Submitted by peterb on November 14, 2008 - 6:31pm.

CA is officially close to 8% unemployment. How many of these people have a mortgage that needs "modification"? Unemployment is a killer for RE.