News

Recession Briefing 11.23: Foreclosures Hits Renters

What you need to know today to survive and thrive in the recession.

A new wave of foreclosures stands to hurt people who may have never taken out a mortgage: renters. In cities where many investors are carrying upside-down mortgages on large rental buildings, some tenants are watching their homes fall apart along with the financing. (Washington Post)

From takeaway pizza outlets to purveyors of deep-fried chickens, the recession has proved a boon for fast-food operators as more people have turned to cheap and easy food. (Financial Times)

Lawyers nationally have seen a drop in divorce filings compared to last fall — which had already seen a plunge in filings compared to 2007. (Washington Times)

If you have less money to donate to charities this year, narrow your list of nonprofits, volunteer your time or give unused household items. (Los Angeles Times)

The United States government is financing its more than trillion-dollar-a-year borrowing with i.o.u.’s on terms that seem too good to be true. But that happy situation, aided by ultralow interest rates, may not last much longer. (New York Times)

Even before the recession, more than one in five Americans needed help from family, friends or outsiders to pay for basic needs, according to a survey by the Census Bureau. (New York Times)

Three in 10 Americans in the latest ABC News/Washington Post poll say they or someone in their household has lost a job in the past year — a new high. (ABC News)

Available data, still incomplete, suggest that this recession, like past ones, coincided with an uptick in suicides. Additionally, calls to suicide hotlines are rising. (Wall Street Journal)

Michigan state workers who deal with unemployment, welfare and other aid programs say they have never been so overwhelmed — or so worried about their safety. Some clients have begun taking their anger out on the very people who are offering help. And caseworkers are seeking extra protection. (Associated Press)

A group of U.S. business economists boosted their forecast for economic growth over the next year, but said the jobless rate will remain stubbornly high, a survey released on today showed. (Reuters)

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