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.



Search Real Estate Glossary

 

Related Real Estate Glossary terms

Brokerage General Agent

Independent contractor of the insurance company who has the authority to appoint brokers on behalf o ...

Real Estate Investment Trusts (REITs)

Type of investment company that invests money in mortgages and various types of investment in real ...

Severalty Ownership

Person's title to real estate giving him exclusive power and rights owner it. ...

Deferred Retirement

Retirement taken after the normal retirement age. For example, if the normal retirement age is 65 or ...

Meeting Of The Minds

An agreement among those involved in a contract. There is an offer and acceptance, and the property ...

Abandonment And Salvage

Legal status giving an insurance company all rights to an insured's property. The abandonment clause ...

Related Real Estate FAQ

What Is Joint Tenancy?

A joint tenancy is an equal, undivided ownership in a property by two or more individuals. ...

How Big Is An Acre?

An acre is an area of land equal to 43,560 square feet. For visuality purposes, an acre is most oft ...

What Is Equity?

Equity is the financial interest or cash value of your home, minus the current loan balance(s). If s ...

What Are Jumbo Mortgages?

Jumbo mortgages are mortgages larger than the limits set by Fannie Mae and Freddie Mac. A jumbo mort ...

What Do I Need To Know About Watercraft Insurance?

You need separate coverage for the variety of risks you face when storing, launching, hauling or run ...

What Is Comprehensive Homeowners Insurance?

Comprehensive is the most expensive type of homeowners insurance; it covers the most potential damag ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

What Costs Do Buyers and Sellers Pay On Big Day When Escrow Closes? How Does The Home Loan Underwriting Process Work? When to buy a house What is the Best Time of Year to Buy a Home? What is Escrow and how does it Work?

FAQ

What is a gated community? What is a credit report? Who is a subagent? What happens when you prequalify? What is a mortgage insurance premium (MIP)?