Word: recessional
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Still, the FHA is facing the same economic headwinds as every other mortgage-industry player. As unemployment rises, so do mortgage delinquencies. As of the end of June, nearly 8% of FHA loans were seriously delinquent or in foreclosure, according to the Mortgage Bankers Association - mirroring the rate for mortgages...
"If you're shopping for a big-screen TV, then getting the right one at a modest discount is always better than getting the wrong one really cheap," says Victor Cheng, author of the Recession-Proof Business. (See 10 things to buy during the recession.)
See 10 things to buy during the recession.
Proudly so, because as Zhang understood, hard work today means a much better life decades from now for those who will inherit what he helped create. And if that sounds familiar to Americans - marooned, for the moment, in the deepest recession in 26 years - it should.
It's a competitive business on the streets of Buenavista, made tougher as the recession has pushed more and more women to make a living here. Mexico's economy is predicted to shrink 7.2% in 2009, its worst slump since the Great Depression. Grim by any measure, the fragile economy...