AZCentral.com reports that Job losses are going to hit record numbers this year.
What do you think this means for the homeowners in the next 6 months to a year?
Hopefully, some will be able to find new jobs. But many will use up their savings and then have to do a loan modification or a short sale. Increased short sales means lower prices. And the vicious cycle continues.
“For the second time this year, the Arizona Department of Commerce
has forecast 2009 job losses to be worse than expected.
The department projects record losses of about 178,500 jobs this year, a 6.8 percent drop. That’s about 32,300 more than its last 2009 forecast, issued in April.
“We thought economic conditions would actually be better, but they ended up being worse than we thought,” said Jack York, a department economist.”
Continue reading the article here
If you or someone you know is losing their job, or facing some other hardship, don’t wait until your savings are dried up. Call us today to see if a loan modification or a short sale is right for you. There is no harm in getting educated.
(480) 389-5199
Keller Williams Arizona Realty