Word: one-third
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...tracks the mortgage market. As of August, nearly 3% of all home loans were in foreclosure, and a further 6% were more than 60 days late on their mortgage payments. But the picture is far grimmer among subprime borrowers, those with less-than-perfect credit: As of July, nearly one-third of those borrowers were more than 60 days late on their mortgages. All told, some 6.5 million families will lose their homes to foreclosure in the next few years, according to the projections of financial firm Credit Suisse...
...only about 400,000 home loans, possibly fewer. And in recent congressional testimony, officials from JPMorgan Chase said only about $2.5 billion of its home loans (some 14,000 borrowers) of the $845 billion in home loans it services would qualify for the program. Worse, warns the CBO, nearly one-third of borrowers who qualify for the new plan will end up redefaulting on their mortgages anyway. "The steps we have taken so far don't nearly address the scope of the problem," says Schloemer...
...struggling Europe is bad news for the rest of the world, since more than one-third of all foreign direct investment into countries such as China and Brazil comes from the 27-nation European Union. The E.U. with its 490 million population has also been an ever larger consumer of goods and services from Asia; last year it imported about $1 trillion worth from emerging markets alone, and China is its biggest supplier. With the U.S. economy also expected to drop off, it'll be up to Asia to generate its own growth for a while...
...global warming, but it certainly won't be the last. Last year, the U.N.'s Intergovernmental Panel on Climate Change estimated that if global temperatures increase more than two to three degrees F above current levels - which seems quite possible, given current trends in carbon emissions - up to one-third of the species on Earth could be at risk for extinction. "We're already seeing nature react badly to climate change," says Larry Schweiger, the president of the National Wildlife Federation. "We're changing the rules of the game...
...factor in how they vote. Even among black voters, only 1 in 6 said they would take Obama's race into account. Still, the question hovers over the campaign. A controversial recent survey by the Associated Press pushed white participants to react to a list of negative racial stereotypes. One-third of them put credence in at least one of the unpleasant generalizations about blacks. After some complicated statistical legerdemain, the AP concluded that race could cost Obama up to 6 percentage points on Election...