2008-11-04 — bloomberg.com
A recession that began in the third quarter is deepening the housing slump and adding to mortgage defaults as companies shed jobs, according to Jay Brinkmann, chief economist for the Mortgage Bankers Association. Home prices fell 5.9 percent in August from a year earlier, the biggest drop since 1991, according to the Federal Housing Finance Agency.
Job loss is gonna be a problem? Ya think?
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