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Job Loss Could Put One in Three Out of Their Home

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Real Estate Agent with SANDALS REALTY GROUP, INC

Job Loss Could Put One in Three Out of Their Home

job Loss 

This comes as no surprise. The average American has no savings for a rainy day which include Mortgage &/or Rent payments. One months and"Sink". It appears consumers live paycheck to paycheck, & my colleagues commission check  to commission check. Its difficult for our more affluent Homeowners as well.

One in three Americans would be unable to make their mortgage or rent payment beyond one month if they lost their job, according to the results of a national survey taken in mid-September.

Job loss has become the primary driver of mortgage/Rent defaults. And With the national unemployment rate holding above 9 percent for five straight months and not expected to drop by any significant measure in the foreseeable future, the state of the labor market is one of the biggest obstacles for struggling homeowners and their lenders.

According to the article a number of programs at both the national and state level have been launched to assist unemployed homeowners, but so far the expected results haven’t materialized.

 

Read Full article at:

http://www.dsnews.com/articles/job-loss-could-put-one-in-three-homeowners-out-of-their-home-2011-09-30

Comments(8)

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Chandler Real Estate Liz Harris, MBA
Liz Harris Realty - Chandler, AZ
#ChandlerRealEstateAgent

This is very true~ Wishing for job inventory to be on the increase!

Dec 27, 2011 03:51 PM
Mary J Macy
Top Agents Atlanta Metro - Roswell, GA
Top Agents Atlanta Metro, Inc.

We are living in very scary times for people being on the edge financially.  I saw at least 5 moving trucks (Uhaul, rider, etc)  today on the roads I traveled, was worried it was families being pushed out of their homes.

Dec 27, 2011 03:53 PM
Vince Chinell
VICO Home Inspection - Branson, MO
CPI

Shelda,  So sad but very true.  We really need to get this country back to work and cut our debts to get this economy back on its feet. 

Dec 27, 2011 03:56 PM
Carolyn Kolba
Serving Mentor, and all of Lake County, Ohio - Mentor, OH
Keller Williams Realty- Mentor, Ohio

Shelda:  What a happy, Christmas'sy thought to have rolling around in your head.  If only we had a Congress that was interested in solving problems, instead of the obstructionist bozos in the Republican House of Representatives who have openly stated that their main goal is to make sure President Obama is a one term president. 

How can we solve our housing mess, and our jobs mess... if they keep on throwing roadblocks in the way of progress?

Dec 27, 2011 04:02 PM
Chuck Beaumont
Royal Lepage Binder Real Estate - Windsor, ON
Going The Extra Mile...

A challenging situation that needs some serious reslove. A thought of prosperity to all in need. 

Dec 27, 2011 04:08 PM
C. Lloyd McKenzie
Living Albuquerque - Albuquerque, NM
Living Albuquerque

Good Evening Shelda:

Excellent post.  Indeed a big issue.  We have to be careful as real estate professional.  When a resident of our community loses his or her job...it is one less person that we are able to prospect to.  We need to get innvolved and start holding our lawmakers accountable.

We need to get the criminal syndicate out of our election process.  It's time to fire all those who have misuse their position.  Let's just cleanup congress and start over  

Dec 27, 2011 04:09 PM
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

The loss of a job or the number of people that have been effected due to the economy. Those who are in Real Estate are not counted in the unemployment numbers because they are self employed not are the contractors. We do not need to look far to see why people are losing jobs.

Dec 27, 2011 05:16 PM
Shelda Hodges Author & Realtor
SANDALS REALTY GROUP, INC - West Palm Beach, FL
It's your journey. We will hold your hands

This is a serious problem facing our nation. Wishing you all a productive new year 2012

Dec 28, 2011 05:13 AM