It’s not a major shock but still unsettling to read that August brought us record highs in unemployment and home foreclosures. We see many people losing their jobs and their homes in our neighborhood and we wonder when this will bottom out. Will the same fate befall us? Of course, all would be well if we could hold on to our jobs but many businesses have folded in recent months.
The high gas price is not helping. Although it has dropped a little, when it was at its peak, it has already imposed a financial strain on many of us. And this drain on our savings will take a bit of time to recover.
Right now, the whole of America is busy keeping track of the John McCain / Sarah Palin vs. Barack Obama / Joe Biden Presidential election campaign trail. But come November, when the newly elected President and Vice President of the United States enter office and the general public gets back their life and go out to the real world, the reality will sting.
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Tags: American economy, foreclosure, home forecolsures, jobless, unemplyment rates
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