Unemployment
Definition of "Unemployment"
The nonavailability of jobs for people able and willing to work at the prevailing wage rate. It is important measure of economic health, since full employment is generally constructed as a desired goal. As firms fail and as individuals struggle, mortgages and other loans go unpaid. This causes real estate values to go down and hurts lenders. Loan defaults rise.
Popular Real Estate Terms
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Federal agency that aids veterans of the armed forces. For example, it guarantees a home loan for up to a predetermined dollar amount or percentage of the loan balance, whichever is less. ...
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