Housing's New Nightmare

August 31st, 2010 - By TheEditor

(CNN Money) – In another ominous sign for the economy, the number of people falling behind on their mortgages for the first time is on the rise. This grim statistic is only the latest bad news for the reeling economy.Home sales are in free fall, initial jobless claims remain high and the gross domestic product slowed to a near halt in the second quarter, government reports issued this week showed.

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