GREAT DEPRESSION
High unemployment rate along with a sluggish real estate market have forced many Arizona families into financial disaster. People are filing for bankruptcy at record levels. Bankruptcies are up to 85% this July since 2008. cited Arizona Rebpublic. I personally know many people who either entire lost their job or have taken a 20-30% pay cut to keep their job. Times are rough here in Arizona. Many people are taking on second jobs just to make it every month. There are people filing bankruptcies at all classes. This economic slump does not discriminate amongst people.
More people are delaying the agony by putting every day living expenses on credit cards. That is a disaster waiting to happen. Now, people are paying a high interest rate for daily living expenses. One of the reaons for the Arizona foreclosures is due to the unemployment rate. I have known a couple people who were successful at the loan modification process to only lose their job.
It was reported the other day that unemployment rate went down for the first time in 15 months. Please read my blog post for further details. The American people will get through this mess as we have in the past. We must join together and make things happen one person at a time. Government needs to pass laws that help out and hot hinder progress.
Make the Call, Set the Plan, Do the Deal$!
Feel free to listen to my Radio Show to learn more about the phoenix real estate market, new trends, and the latest opportunities. The Real Estate and Beyond Radio Show Airs every Saturday from Noon-2:00pm on Conservative Newstalk KKNT 960am in Phoenix, Arizona. You can listent to past shows, or stream on-line.
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