Corrente

If you have "no place to go," come here!

All the leaves are brown, and the sky is grey

California dreaming:

About five miles away, signs reading “bank-owned home” are scattered throughout neighborhoods.

You broke it, you bought it ....

“There’s always a level of desperation” in applicants, Villarreal said. “But the degree and depth of it now I’ve never seen: I’m not used to getting calls from clients saying they’ll kill themselves if they don’t get on the wait list.”

Well, everybody needs to do their bit to restore confidence!

Krugman called his shot:

"A lot of middle-class Americans are going to find that their middle class-ness has suddenly been taken away from them"

Yep.

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herb the verb's picture
Submitted by herb the verb on

I spent most of the day yesterday driving around in neighborhoods in Minneapolis which are primarily mid-low income and minority. At least 3-4 houses per block (about 1-3 percent) were boarded up, foreclosed, bank owned or "price reduced".

That is devastating to a community.

On the flip side, other neighborhoods in the vicinity have no where near the level of "distressed" housing/lives. Now a paranoid person would wonder if there was some kind of "red-lining" or otherwise targeting going on.

Truly though, that news account is horrifying. That kind of social/economic disruption cannot last without serious political ramifications. Whatever they may be.