Thursday, November 19, 2009

Unemployment fuels U.S. foreclosures

The U.S. foreclosure crisis likely will persist well into next year as high unemployment pushes more people out of homes, pulls down housing prices and raises concerns about the broader economic recovery... read more

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note: Reading my last post, we see Canadian banks are just now lowering rates to entice people to buy fixed-rate mortgages. Whereas, when you read the article here on this post, we see these are the same people being foreclosed on in the US?

With our record high unemployment rate creeping ever higher and higher with each passing month, it is both interesting and alarming, as we all know things tend to lag behind here for six or so months before whatever is happening to our neighbour down south is felt here.

Are we experiencing the calm before the storm? Is unemployment here going to fuel Canadian foreclosures as well? One would expect the answer to be YES. More doom and gloom. However, keep the following in mind... The great depression created more Millionaires than any other period of time in history! That's a fact!

You got to keep your eye on the ball and your finger on the trigger these days. If I can help, give me a call...


John Prince, Alberta licensed real estate agent, CENTURY 21 'THE PROFESSIONALS LTD.' (Crowsnest Pass Real Estate). Serving the Crowsnest Pass and area. Call me directly at 403-564-4518 or by email at: johnprince@shaw.ca

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