Survey finds loans beyond reachNearly 70% of Americans, or every 2 in 3, who applied for a home mortgage found the process more difficult than before the U.S. housing crisis began, as lenders have made it tougher to get credit amid falling home prices, according to a survey by Deloitte. The survey said 65% seeking home equity lines of credit reported greater difficulty, as did 62% looking for personal loans.
Britain's housing downturn could cost up to 100,000 jobs because prices are falling at a faster pace than during the 1990s downturn, according to the National Federation of Builders. Inflation expectations up again
Americans expect 1-year inflation of 5.3%, up from 5.1% in June and the most in 28 years, according to the Reuters-Univ. of Mich. consumer survey. The report's early July sentiment gauge edged up to 56.6 from June's 28-year low of 56.4. Retail discounts and tax rebates may have helped, but most respondents still think the U.S. in a deepening recession.
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