A recent reports shows how Seniors are being forced to work longer (and they will work cheaper) competing with ‘prime earners’ for jobs (with ‘prime earners’ losing) for the 1.9 million jobs created since 2009.. Will this trend increase?

Many seniors say they plan to postpone retirement or work indefinitely, and the data shows they’re doing just that. For the last decade, the overall labor-force participation rate–the percentage of the population that wants to work–has been gradually shrinking. But for workers 55 and over it’s been going straight up. At the beginning of 2001, for instance, about 33 percent of seniors counted themselves as part of the labor force. Right before the recession started, in 2007, it was about 39 percent. The participation rate dropped sharply for all other age groups during the recession, as people gave up looking for work, went back to school, or decided to stay home for awhile to help with the kids. But for seniors it inched up, and is now at 40 percent–about 7 points higher than a decade ago. On one hand, it’s good news that older workers are able to keep a paycheck coming, and build (or rebuild) their nest eggs–and that employers are willing to hire them. But they may also be taking jobs that would go to younger workers. And rising later-life employment is probably a sign of economic stress that could last awhile.

A major midlife job crisis. The overall job market is clearly healing, but middle-aged workers aren’t part of the revival. Workers between the ages of 45 and 54 are still losing jobs on net, with a decline of about 364,00 jobs in this age group so far this year. That seems remarkable–and worrisome–given that these are people in their prime earning years, and they also ought to be at peak levels of expertise in their fields or careers. Yet they’re not yet participating in the jobs recovery, perhaps because their pay requirements are too high in an economy where employers still aren’t willing to bring back the most expensive workers. Many are most likely middle managers whose ranks were severely thinned during the recession, or construction and manufacturing workers who still can’t find work, and may never be able to in their current fields.

http://finance.yahoo.com/news/Why-the-MiddleAged-Are-usnews-1156971570.html?x=0

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I need info on FHA loans, like I am a little familiar with what they are and how they work.
But, can you get an FHA loan for a manufactured home? It’s not a mobile home, its a manufactured home that is permanently affixed to the ground..but anyways, would I be able to even get an FHA loan right now with the economy or is th Media making it sound alot worse than it is?

Technorati Tags: economy, fha loan, fha loans, manufactured home, mobile home

The conservative line has been that the big bad Democrats forced banks to give bad loans which led to the housing bubble bursting. However I beg to differ. I think that the economy was so sick, that the Bush Administration saw housing as a form of artificial life support, that since we don’t actually manufacture things anymore, everything would be okay if we just kept people building houses which no one would have the money to buy. It produced false "economic growth" for a couple of years, but sooner or later that strategy’s going to catch up to you, as it did last year.

Just to show that there was no conservative opposition to no money, no income loans, check out this news story from 2004.
http://www.cnn.com/2004/ALLPOLITICS/03/26/bush.homes/index.html
oops I meant "rein in"

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How did the government bailout to the finance institutions help the economy? What good does it do to throw money back into these institutions, when people are unable/unwilling to apply for a loan for anything!

I know I’m not a "brainiac", but wouldn’t it have made more sense to give that money to the tax payer? Isn’t it ultimately the tax payer that effects the economy? If we aren’t spending, manufacturing slows down/stops [i.e., the auto industry, the trailer industries]; if we aren’t spending because we can’t get a loan [i.e., foreclosure, judgments], why give all that money to lending institutions that are not loaning it back out?

Does no one else see the cause and effect here?

You give money to lending institutions that aren’t circulating the money; you give money to GM and Ford to produce a product that people can’t purchase, because the lending institutions aren’t lending…

Help me out here! I’m not looking for a handout. I don’t need to be rich, nor do I want to be. All I want is to be able to pay my bills on time, have some tucked back for emergencies, and some available for other necessary expenses. I honestly believe that is what most American people want.

Wouldn’t it make more sense to put it out there where it’s going to actually stimulate the economy?

Most people I know [myself included] would:

A. Pay their mortgage to current, or pay it off, which would keep people in their homes and stimulate the lending institutions.

B. Pay off any other outstanding debt incurred from this crisis [such as credit card debt], because we couldn’t afford to fill the tank plus feed the family.

C. Pay cash for a more economic vehicle, no matter what the price of gas is doing at the time being. We’ve learned a lesson here. That would have circulated the monies for the auto industries.

I’m not in any way looking for a handout. I, just like all tax payers, am dealing with this crisis the best way I can, which is going without the things I do not need.

I just wish I could understand how the government can justify these bailouts, when, in actuality, it isn’t going to be effective one way or the other until the middle class feel comfortable enough to start spending.

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I purchased a mobile home 8 yrs ago ()in a park with no land as viable asset) and I do own another home. I have exhausted all avenues for getting it sold, refinanced, (Note holder is Vanderbilt and they REFUSE to help), renting, short sale, etc. I am at the point of walking away cash for keys sort of thing. This one is a rental and I can’t even rent it to pay the note on it. The economy is extremely tight here for real estate rental market. I know I am going to take a hit on my credit but since I pay cash for most everything I buy I am not too worried. Do I need a lawyer to "walk away" or can I send the keys in with a disclaimer note and tell them I am done? I bought it from them out of a foreclosure and found out they did the same thing to previous two owners.

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I’m currently renting but once my apartment lease is up, I’d like to buy a manufactured home, but with the economy the way it is, I’m worried that will affect me negatively. I do have good credit, but only being 19 years old, there isn’t very much of it. So, what are my chances of getting approved for a mortgage? Also, if anyone knows, about how much do manufactured homes run for (2 or 3 bedroom, 2 bath)?
How thoughtful of you to seem so concerned, but nonetheless, I AM buying one, so screw off, eh?
I’ve had my job for a year and a half, and I’ve been working since I was 16. What both of you don’t understand is buying a house, lot and all, right now is NOT an option for me – but I’m sick of renting apartments, especially with how expensive they are. I know manufactured homes are cheap (I want new – not used) and I’m well aware that mobile home parks rent the lot – and guess what. The lot rent is A LOT less than half the amount I pay for rent at an apartment. I know someone who is paying for a manufactured home and renting the lot for it – and both payments combined is a good 300 dollars less then my rent.

Technorati Tags: 19 years, apartment lease, buying a house, economy, job, manufactured home, mobile home parks, mortgage, renting apartments

Ok heres the deal my parents credit isnt the best. They do have bankruptsy on their credit and deleinquit payments on the house. Right now they are up to date besides a couple late fees. My parents tried calling the Lend America that has to do with President Bushs new help the economy BS. Anyways they were going thru the process and a month later the guy calls my parents and tells them that they cant help because they live in a subsidised home ( manufactured home) So my question is does anyone know of a Mortgage company that works with people with less then perfect credit. I really want to help my parents but Im at my ends dont know what else to do. My parents are on an Arm rate right now and everytime the payment goes up its an extra 0 and they cant afford a 00 payment. There company their with now say they cant put it in a fix rate but wont tell them why. Im ready Im not sure what else to put in for information but if anyone can help I would sure appriciate it.
Also we live in michigan and the lend america say that FHA will not finance a Manufacured home. I know some people dont see a difference but its a Manufactured home not Mobil home.

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