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Letter to the editor: Problem of subprime loans continues
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From LaVern F. Isely Monroe To the editor: AP wrote an excellent article titled "32 States Trail U.S. in Job Recovery" by Paul Wiseman, AP Economics writer, which was in The Monroe Times on July 3, concerning the Number One problem in our economy: the loss of jobs. While we are gradually regaining some of the jobs we lost in 2008, one of the main problems pointed out in the article was that construction is running at barely half of the early and mid-2000s. In those days, they were making home loans that were called subprime, which meant that the home was appraised higher by the bank than the home was worth.