Newsflash: mortgage crisis worsening; 2M net jobs lost since 01/09; the Dow is going south again, and we're in 5 wars & 1 in making (Syria).
6 million Mortgages are in default or seriously in arrears, up nearly 10 percent during last year:
http://www.housingwire.com/2011/08/16/u-s-mortgage-delinquency-rate-grew-2-4-in-july 4.4 million properties were classified as more than 30 days past due last month, while 1.89 million were listed as more than 90 days past due.
When looking at loans that are either 30 days or more delinquent or in foreclosure, the database has approximately 6.5 million mortgages that fit that criteria.
States with the most delinquent loans included Florida, Mississippi, Nevada, New Jersey and Illinois, while Montana, Wyoming, Alaska, South Dakota and North Dakota had the fewest non-current loans.
The total U.S. foreclosure pre-sale inventory rate hit 4.11% in July, a 9.7% surge from last year, but a slight o.4% decline from June.
While unemployment rebounded after bottoming out in January '09, jobless recovery leaves more than 2 million net lost jobs (source: BLS):
By this count, Obama's has been a Net-Zero presidency. Bill inherited an economy that was in far better shape, and rode the dot-com bubble before that burst. Let's give Barack this much - he's done a great job of stabilizing a status quo that really, really sucks.