job market - Articles

Young Workers See Sharpest Salary Drop, Flock Back Home

With the revelation that another 2.6 million Americans fell below the poverty line last year, the most unlikely victims of the recession might be parents' social lives. The New York Times reports that the group that saw the sharpest decline in median income was young Americans, between the ages of 15 to 24. What that means... Continue Reading »

Unemployed Mortgage Assistance Program Extended

The Department of Housing and Urban Development will begin taking applications again for a new program providing interest-free loans to unemployed borrowers struggling with their mortgage payments. Under the Dodd-Frank Act authority, HUD launched the $1 billion Emergency Homeowners Loan Program in June. Unemployed... Continue Reading »

Mortgage Applications, Refis Hurt by Job Market Stagnation

Minnesota homeowner Matt Kreger refinanced his $168,000 mortgage into a 4.75 percent 30-year fixed-rate three weeks ago, to get out of a 5-year, interest-only ARM with a 5.7 percent rate, which was set to change at the end of September. Borrowers such as Kreger were part of a push before Labor Day to close on the... Continue Reading »

Will Suburbs Become Slums?

Part of the promise of suburbia was its economic homogeneity. Move to Levittown in the 1950s, say, and you would be surrounded by people just like you: middle class, gainfully employed, and generally on the way up. In fact, suburbs have often been criticized for separating people by social class, with isolated wealthy... Continue Reading »

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