Survey: 36% of Americans May Miss Housing Payments

first_img Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Save HOUSING mortgage payment Stimulus 2020-05-04 Seth Welborn Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Wells Fargo: No New HELOCs Due to Current Market Conditions Next: How Lawmakers are Preventing Foreclosures Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: HOUSING mortgage payment Stimulus According to a survey from Freedom Debt Relief, 90% of Americans say their financial situation has been impacted by the COVID-19 pandemic to some extent. Nearly a third (32%) of participants say they have experienced a reduction in pay or work hours due to the pandemic.Of the survey respondents, 65% say that the pandemic relief check is not enough to get them through the current economy, and 45% report that they already are struggling to make their rent or mortgage payments.Another 36% say they will likely miss their mortgage or rent payment within the next six months.Respondents from New York, although New York City has become one of the epicenters of COVID-19 in the United States, did not report feeling that the wider economic conditions have deteriorated as much as participants nationwide. Only 55% of NY respondents argued that the current economic conditions in the U.S. were very poor or poor versus 66% across all participants, while 45% felt that the conditions were good or very good, over ten points higher than the nationwide sample at 34%.On the week ending April 25, the advance figure for seasonally adjusted initial unemployment claims was 3,839,000, a decrease of 603,000 from the previous week’s revised level, according to the latest data from the Department of Labor. The previous week’s level was revised up by 15,000 from 4,427,000 to 4,442,000. The 4-week moving average was 5,033,250, a decrease of 757,000 from the previous week’s revised average. The previous week’s average was revised up by 3,750 from 5,786,500 to 5,790,250.“As with the prior weeks, a few caveats make this week’s data difficult to interpret precisely,” said Doug Duncan, Chief Economist at Fannie Mae. “On one hand, UI eligibility rules have been relaxed recently, increasing the number of people who are able to apply. This makes it difficult to estimate the uninsured unemployed share of the workforce. On the other hand, many states reported a significant backlog of UI applications due to a lack of processing capacity, indicating that this week’s release may understate the true extent of insured layoffs.” Home / Daily Dose / Survey: 36% of Americans May Miss Housing Payments Sign up for DS News Daily Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. center_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Market Studies, News May 4, 2020 1,641 Views About Author: Seth Welborn  Print This Post Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Survey: 36% of Americans May Miss Housing Payments Subscribelast_img read more

Long-Term Unemployment Numbers Concern Economists

first_img Previous: Proving De-acceleration In a Changing Landscape Next: Migration, Low Rates Make Homeownership Attainable  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Jobs Report U.S. Bureau of Labor Statistics 2021-01-08 Christina Hughes Babb Share Save Long-Term Unemployment Numbers Concern Economists Home / Daily Dose / Long-Term Unemployment Numbers Concern Economists About Author: Christina Hughes Babb Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Jobs Report U.S. Bureau of Labor Statisticscenter_img The employment report for December 2020 showed a loss of 140,000 jobs in December, the first decline since April, according to Friday’s Employment Situation Summary from the Bureau of Labor Statistics. Professional and business services, leisure and hospitality, retail trade, and health care primarily drove small employment gains. At the same time, the headline unemployment rate improved slightly as the number of unemployed Americans dropped.First American Deputy Chief Economist Odeta Kushi says the millions of people who are now considered long-term unemployed are more concerning than the headline number.”Long-term unemployment last ballooned during the Great Recession, hovering around 40% of the overall jobless population from late 2009 into 2013, the highest in the series’ 73-year history,” she said.The number of long-term unemployed (those jobless for 27 weeks or more) is practically unchanged relative to last month but accounts for 37% of total unemployed in December, Kushi pointed out.Senior Economist at Realtor.com George Ratiu says a sustainable increase of new jobs and new construction is crucial to ensure a strong 2021 housing market.”However, the economic divide created by the pandemic continues to be a problem,” he said. “The silver lining is that there seems to be a light at the end of the tunnel. Looking ahead, with fiscal stimulus rolling into the economy, vaccines being distributed and interest rates at historically low levels, the divide between those with jobs and those without could begin to shrink.”The unemployment report showed the effects of the recent resurgence in the COVID-19 pandemic, according to Fannie Mae’s Chief Economist Doug Duncan.”Data from the household survey were slightly less pessimistic,” he added, before outlining other aspects of the study:”The unemployment rate and labor force participation rate both stayed constant at 6.7% and 61.5%, respectively, in December. The number of people on temporary layoff, which had been declining, rose by 277,000 last month, and the number of people experiencing a permanent layoff fell by 348,000. Furthermore, the number of persons who were working part time but who would prefer full time employment decreased by 471,000 in December, and the U-6, the broadest measure of labor underutilization, fell by three-tenths to 11.7, both positive signs for labor demand.”Explaining how the unemployment rate has shifted over past months, Raitu said that the unemployment rate dropped in November, and the number of jobs on company payrolls increased. However, the gain slowed again and there are still fewer jobs now than there were in February of 2020.”As a whole, the economy quickly bounced back earlier this year. Stimulus programs that helped bridge income and revenue losses were key to preventing a sustained economic collapse. However, as the pandemic disruptions stretch longer than expected, it’s clear that additional stimulus is needed—something both Fed Chair Powell and Treasury Secretary Mnuchin urged in testimony to Congress this week. Looking ahead, without additional help, economic performance could stall, and that loss of momentum would likely impact previously resilient industries, such as housing.”Kushi says the potential implication of the worsening situation could be “permanent economic scarring and prolonged recovery.” There could be some light at the end of the tunnel, though, she added.”A rollout of successful vaccines in 2021 may help some of the hardest-hit sectors—airlines, hospitality, retail—recover, providing a real boost to the labor market, with faster growth skewed to the services sector. However, it will likely take years to regain all the jobs lost.”Raitu added that housing remains a bright spot, as we enter 2021.”Residential construction jobs increased nearly 1.1% in December relative to November and are now .8% above their pre-pandemic levels in February. Increasing the number of construction workers is critically important to alleviating the labor shortage challenge and the gap between household formation and homebuilding.  More hammers, more homes.” Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Market Studies, News Demand Propels Home Prices Upward 2 days ago Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago January 8, 2021 11,832 Views Related Articles The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more

Pregnant woman among 5 shot at football game when gunman on moped opened fire

first_imgiStock/Thinkstock(NEW YORK) — At least five people were wounded, including a pregnant woman whose baby was delivered by emergency cesarean section, when a moped-riding gunman opened fire on a crowded football field in Dallas and people fired back, police said.The shooting erupted about 9:20 p.m. Sunday on a football field near the Cotton Bowl in southeast Dallas, police said.  A large crowd was on hand for what had been a friendly neighborhood football game when a “disturbance” broke out between several men, the Dallas Police Department said in a statement to ABC News Monday.Citing witnesses, a man “walked up to the field then got on a moped and drove to the middle of the field when he opened fire on the crowd,” the statement reads. “A witness stated that multiple people began shooting towards that shooter on the moped.” Three women, including the pregnant one, were shot, police said. Two of the women were in critical condition Monday morning, while the third was in stable condition, police said.  The pregnant victim underwent an emergency C-section at a hospital and police said her baby survived.Two men were also wounded and both were in stable condition this morning.The names of those wounded were not released.  No arrests were made.A witness, Braylon Allen-Stovall, posted a video of the shooting on his Facebook page. In the video, a large group of people appeared to be gathered on the football field when an apparent argument erupted.The video captured several dozen shots being fired and people screaming and running for cover.The shooting occurred at the Juanita Craft Recreation Center near Fair Park, where the Cotton Bowl is located.Copyright © 2018, ABC Radio. All rights reserved.last_img read more