New foreclosure filings decline
MILWAUKEE (AP) — New foreclosure filings in Wisconsin dropped 5 percent in April compared to the prior month.
But, economic observers say the decline isn't worth celebrating just yet. With subprime mortgages already in the foreclosure process, job losses could lead to additional filings for those with standard mortgages.
University of Wisconsin-Whitewater economics professor Russell Kashian has been monitoring state foreclosures. He says the real number to watch is the national unemployment figure due out from the U.S. Department of Labor on Friday.
Kashian says if another 600,000 jobs are lost, foreclosures will follow. If that number is below 500,000, Kashian says better times are ahead.
There were 2,540 new foreclosure filings statewide in April, compared with 2,680 in March.
May 6, 2009 at 3:58 a.m.
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good pay your bills and stay in your home
May 5, 2009 at 8:58 a.m.
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I wish the coverage for crime would be equally statistically sensitive. Crime goes down by even more than this, and we all hear warning that crime might go up. This is all my long way of saying that the decline is statistically negligible.
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