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Foreclosure Listings of Handyman Special Homes Share Workers' Status

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By : John Cutts    99 or more times read
There are still huge numbers of bank foreclosure listings and listings of Handyman Special homes in Arizona and despite their cheap prices, buyers are still reluctant to put down their money. This might be due to the uncertain condition of the state's job market, where most people who lost their jobs also lose their homes to foreclosures.

The huge number of the unemployed also means that there are fewer people who have the means or the inclination to purchase Mesa foreclosed homes for sale and other types of residential properties. According to economists, unemployment in the region is not merely a few weeks gap between the new job and the old job, it is now about months or even a full year of being unemployed.

Economists have also added that most of the unemployed in the state add hundreds of properties to the total number of Arizona foreclosure homes for almost every week as more and more residents fail to meet their mortgage obligations due to declining household incomes.

As listings of Handyman Special homes and bank foreclosed houses rise, the number of people losing their jobs also increases. Around 310,900 people are unemployed in the state according to data gathered as of the end of September 2010. Half of this number had been unemployed for at least six months, according to the Arizona Department of Commerce.

When compared with the 2001-2002 economic recession, the current downturn is definitely much worse according to economists. The number of foreclosed homes during that time is not as huge as it is now and only about 24% of people who lost their job remained without work for six months or more.

State job market data showed that most of those who have been jobless for at least six months are refugees and are workers of industries that were hit hardest by the recession, including construction and real estate employees, information technology workers and engineers.

A big number of the unemployed are reportedly at least 50 years old, while the other half is comprised mostly of new graduates seeking to land their first jobs. Economists expect the number of jobless people to remain parallel with the number of bank foreclosures and listings of Handyman Special homes in the state, with one sector always affecting the other.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.

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