This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Top Business Story: Recovery From Great Recession

3. FORECLOSURES HEAD HIGHER: Home foreclosures top 4 million, as more people lose their jobs and can't afford to pay their mortgages. As a result, increasing numbers of people with fixed-rate loans and good credit are losing their homes.

The Obama administration's plan to help financially strapped homeowners, announced in March, results in 680,000 loan modifications, far short of the government's goal of up to 4 million.

By the end of the year, a record 14 percent of homeowners with a mortgage are either behind on their payments or in foreclosure. Bargain-priced foreclosures are dragging down home values in neighborhoods across the country. Nationwide, American homeowners have lost $4 trillion in home equity since the housing bust.

4. WALL STREET CLAWS BACK: In March, major stock indexes tumble to 12-year lows. Then the fever breaks. Seven months later, in October, the Dow Jones industrial average is back above 10,000 and still advancing. In the nine months since the turnaround took hold, the Dow scoops about 3,900 points, or 59.5 percent, on signs that layoffs are slowing, corporate profits are climbing and factories are producing more.

5. SMALL AND MID-SIZE BANKS FAIL: 140 banks collapse as consumer loan losses keep rising and commercial real estate loans sour. It's the biggest number in any year since 181 banks failed in 1992 at the end of the savings-and-loan crisis.

The banks have been undone by real estate, construction and industrial loans that soured as the recession has deepened. Defaults are up as developers abandon failing projects and landlords can't meet their loan payments.

3 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AAPL $132.54 0.00%
FB $80.54 0.00%
GOOG $540.11 0.00%
TSLA $247.73 0.00%
YHOO $43.48 0.00%

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs