Unemployment Fuels Foreclosures

July 20, 2009

Though comparisons have been made to the U.S. recession of
nearly thirty years ago, one decided difference this time around appears to be
poor conditions for a housing boom leading a recovery. There will be no home
building frenzy until the market becomes less saturated, and with unemployment
on the rise, foreclosures may not be going anywhere just yet.

Kentucky Takeaway: Kentuckians could be more vulnerable to
this latest foreclosure wave, depending on how many state jobs are lost during
the recession. Louisville Kentucky is lucky. Louisville foreclosures are not nearly as high as other states.

Source: http://www.delawareonline.com/article/20090720/BUSINESS/907200302/1003/Foreclosure-problem-grows-in-U.S.

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