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Furlough at a California Department of Motor Vehicles office in 2009. The U.S. state of California had a budget crisis in which it faced a shortfall of at least $11.2 billion, [1] and projected to top $40 billion over the 2009–2010 fiscal years. [2]
The Fed study reported that mortgage originations to investors rose from 25% in 2000 to 45% in 2006, for Arizona, California, Florida, and Nevada overall, where housing price increases during the bubble (and declines in the bust) were most pronounced. In these states, investor delinquency rose from around 15% in 2000 to over 35% in 2007 and 2008.
2002: Annual home price appreciation of 10% or more in California, Florida, and most Northeastern states. [84] Paul O'Neill (Secretary of the Treasury) is fired by Bush. Among other things, he had wanted to take action on executive compensation and corporate governance. [85] June 17: Bush unveils his "Blueprint for the American Dream". [86]
The WalletPop team collectively learned these lessons from the recession: 1. Our Houses Are Homes, Not Piggy Banks or Retirement Funds Thank you Big Banks for Lessons From the Recession: 10 Things ...
The National Bureau of Economic Research (NBER)'s Business Cycle Dating Committee, a group of professors that officially decides the beginning and end of recessions, says it's not yet ready to ...
Get sweaters on sale for the whole family during Nordstrom's Half-Yearly Sale: Up to 60% off must-have brands
For comparison, the severe 1981-82 recession had a jobs decline of 3.2%. [49] Full-time employment did not regain its pre-crisis level until August 2015. [51] The unemployment rate ("U-3") rose from the pre-recession level of 4.7% in November 2008 to a peak of 10.0% in October 2009, before steadily falling back to the pre-recession level by May ...
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