The US Housing Crisis
As thousands and thousands of homes are being foreclosed on it is evident that we are now looking at one of the worst financial crisis the US has gone through in years. News of banks collapsing while others struggling it is a scenario we have not seen since the Great Depression.
Only to add salt to the wound Americans are faced with rising gas costs, food prices, and a weakening dollar. For many it is becoming harder and harder to pay the bills. It is times like this that people wonder who is to blame and what can be done to rectify the situation. Unfortunately thousands of homebuyers were taken in with easy to get loans that were associated with high risk and adjustable rate mortgages and are left with no option but to give up their home.
Finally, government agencies are stepping up to the plate but it may be little to late and it is likely the taxpayers are going to be the one flipping the bill.
Read the full story at “In My Opinion” - The Housing Crash: How it happened and who is responsible
