Posted on 20/11/09
U.S. housing crisis hits new level
REAL ESTATE REPORTERMounting unemployment is pushing foreclosure rates higher in the United States, and driving even Americans with good credit from their homes in greater numbers.What began as a crisis among home owners with bad credit and subprime mortgages has spread to the those with traditionally safer fixed-rate mortgages. A strong housing sector is seen as key to any economic recovery, but rising unemployment and a stagnant economy threaten to erase recent signs of stabilization.
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