This is painful to watch!
'Foreclosure Alley'
Some might argue that this is more or less a self-inflicted catastrophe, suggesting, rightly so that the cause is a result of the recklessness of lending banks and that of borrowers. I grudgingly agree, but nevertheless, the effects are more personal and far-reaching!
I am trying to imagine the implications to the affected families. Stuff such as homelessness, separation, marriage breakdown, and suicides spring to my mind!
We have not seen a lot of this in the UK so far, but trust me you, the credit crunch is yet to bite!
The worst is yet to come.
Get That Teen Off the Couch!
2 hours ago
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