Labor & Economic News Blog
Thursday, March 15, 2007
Where the Wolf Comes Knocking
Where the Wolf Comes KnockingBy David Cho and Nell Henderson
The big question is: How bad will it get? So far, the rising mortgage defaults that panicked markets this week have been concentrated in areas of the country already reeling from layoffs in the automobile industry and in hurricane-stricken states on the Gulf Coast. In Mississippi and Louisiana, about 1 in 10 homeowners are failing to make their payments, fresh data show. Ohio, Michigan and Indiana, the nation's industrial heartland and the states suffering the country's highest unemployment, aren't far behind. ...
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