A year into the financial crisis, the news is grim and there are signs of even worse troubles ahead. The mortgage bust continues and has begun to spread to loans for construction and commercial property, as well as credit cards and auto loans.

There may soon be more bank failures and a spate of corporate bankruptcies. That means that unemployment will almost certainly rise employers have shed nearly half a million jobs this year — and those who keep their jobs will have to cope with fewer hours, measlier raises and evaporating bonuses.

Read the full No End in Sight story

Posted by Carlos Sagastume on August 26, 2008. Filed under HUD Homes. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry