Mortgage delinquency vs job growth/unemployment
As problem mortgages increase, lenders have tightened their
standards, adding further to pressures on the housing market.
As long as job growth remains strong, the housing downturn
will not derail the economy, but the impact on consumer
spending is likely to be "more pronounced".
-- Mark Zandi, chief economist of Moody's Economy.com
[ Via WSJ ]