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Florida
Foreclosure rate: 1 out of 26 households. Unemployment rate: 4.6% (compared with 3.5% in the first quarter of 2007). The Lowdown: Things are looking a little gloomy for the Sunshine State, where seven of the state's metro areas are in the top 30 for highest foreclosure rates nationwide. This is another market that may have been hit hard from speculative buying and home prices, according to Sharga.
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Colorado
Foreclosure rate: 1 out of 28 households. Unemployment rate: 4.7% (compared to 3.9% in the first quarter of 2007). The Lowdown: "[Colorado is] suffering from a home inventory glut caused by overbuilding by new-home builders and exacerbated by unregulated mortgage brokers who [in the case of a small number of practitioners] took advantage of lax lending standards," says Sharga. With 1 out of 77 homes in the Denver-Aurora metro area foreclosing, the state's housing market is as rocky as its mountains.Arizona
Foreclosure rate: 1 out of 30 households. Unemployment rate: 4.1% (compared with 3.7% in the first quarter of 2007). The Lowdown: The state was "overbuilt in certain areas and is suffering from the fall-out of an overheated housing market that artificially inflated home prices," says Sharga. In the first quarter of 2008, 1 in every 95 households received a foreclosure filing. If you found this post informative, check out MainStreet's previous stories on the mortgage crisis where we explored living and buying opportunities in metropolitan areas throughout the U.S. If you are about to buy, give our mortgage aid post a look.The central bank said it would auction an extra $50 billion a month through its term auction facility among other measures, even though credit conditions are improving.
The Labor Department reported a loss of just 20,000 jobs in April, a quarter of March's loss.
The Labor Department reported a loss of just 20,000 jobs in April, a quarter of March's loss.
Yahoo! is among the most searched stocks on TheStreet.com. Here's what Cramer had to say about the stock recently.
Catch up on his thinking on the hottest topics of the past week.
Investors will have to deal with a Fed meeting and another flood of earnings and economic data.
Ensco International and Echelon have the potential to move higher in coming days.
See who made what calls.
The addition of video is helping telecom companies compete against cable and satellite companies.
The June West Texas Intermediate contract reflects selling pressure ahead of Tuesday's expiration. But stocks in the sector are generally trading higher.
See who made what calls.
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