http://www.nytimes.com/2009/11/20/business/20mortgage.html
U.S. Mortgage Delinquencies Reach a Record High
It is a good thing our economy is in recovery. Our government told us so. And they wouldn't lie to us.
Otherwise, some of us less educated folks might think that the rising mortgage delinquencies are an indicator that the economy is not recovering. 10% of all homeowners are unable to pay their mortgage regularly, and there is an unknown number of homes already in foreclosure.
Some of us less educated folks might think that 10% mortgage delinquencies plus and unknown number of foreclosures, means at least 10% unemployment. But I forget, our government has told us that we can have economic recovery without job recovery. Maybe they will have to tell us that wc can have an economic recovery witha decrease of productive capacity.
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