U.S. Economy takes hit on subprime mortgages - 2007-03-12
The recent struggles in the subprime mortgage industry are having an affect toll on the U.S. economy as a whole, according to the most recent National Association of Business Economic survey. Concerns over household and/or corporate debt creeping and vulnerable housing markets top the list, according to the survey of 320 economists taken in February.
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Foreclosures May Hit 1.5 Million in U.S. Housing Bust - 2007-03-12
Hold on to your assets. The deepest housing decline in 16 years is about to worsen. As much as 1.5 million more Americans may lose their homes, another 100,000 people in housing-related industries could lose their jobs, and an estimated 100 additional subprime mortgage companies that lend money to people with bad or limited credit may go under, according to realtors, economists, analysts and a Federal Reserve governor.
Read the full story at Bloomberg