The COLDEST Winter Ever!

In LIFESTYLE on November 25, 2008 at UTC.18.30.

Even though the mercury doesn’t drop into below zero temperatures in the sub tropical state, this year is sure to be one to remember with the latest economic downturn. Consider, that Florida is ranked 3rd in the nation with the rate of foreclosures. Approximately, 1 out of 157 housing units has had its doors closed due to a defaulted mortgage.

The joblessness is at 6.6% thats almost 10% which is crazy. Just about 1 in every 10 people has lost their job this year in Florida.  This is the highest rate its been since 1994. Florida has lost over 600,000 jobs this year. So, this promises to be the coldest winter ever, at a time when families gather to celebrate their blessings. Some will be hard pressed to see the silver lining in the proverbial cloud. Its a cold world, and even colder when your source of income has been extracted.

Many in Florida have been robbed of their blessings with unexpected layoffs, firings, or corporate right-sizing.  Its hard to believe that the sunshine state isn’t shining  brightly when it comes to the state  of  unemployment.

According to the Labor Department the number of people continuing to draw unemployment benefits “jumped by 122,000 to 3.84 million in late October. 12 months ago, there were just 2.59 million.” So, the number of people increased in one year by 1.25 million people. There seems to be a crisis in the state. As Florida continues to be at the top or near the top in unemployment, violence & crime also rise.

Is there help?

Congress created the Housing and Economic Recovery Act 2008. The Federal Housing Administration (FHA), has estimated 400,000 borrowers in danger of losing their homes will be able to refinance into more affordable government-insured mortgages. While this is a portal for those in dire need, this program isn’t enough for the myriad of Florida residents faced with the prospect of losing their home investment.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: