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Re: The end of high unemployment
posted at 9/25/2012 1:11 AM EDT
But are those numbers comparable to the years before the crash?
Oh, and you forgot to mention if the ability to get a mortage (supposedly back to the original standards nowadays) can be attained by the potential people looking to live in said homes. I suspect not.
Before the crash, at least where I live, you needed at least 20K in the bank to secure a mortgage. I don't know about you but I can't think of anyone who's got that kind of money in the bank, let alone even a small percentage of that in the bank, and without it, you can't get the credit to secure a mortgage, so all those homes are empty, which doesn't do anything to help to improve the economy. Back to the basics.