Thursday, October 23, 2008

Shattered Dreams

Excellent PBS special discussing the foreclosure crisis in California. Though Riverside County's "Foreclosure Alley" was the primary target for this segment, I believe much of the nation is experiencing a similar, albeit smaller-scale foreclosure problem - for the moment... As the nation's economic condition continues to deterioriate, millions more jobs will be lost, credit will remain tight, interest rates will rise, underwriting standards will stiffen and this wide-scale foreclosure contagion will likely spiral out of control - across the nation.

I really think you'll enjoy this clip.

4 comments:

Justin_n_IL said...

Amazing how all of those things are thrown away.

Justin_n_IL said...

The banks destroy the goods inside the house so that they can hurry and get them on a market to which no one is shopping?

45north said...

Value is lost. In my house we get rid of lots of stuff - first criteria is can anyone else in the house use it, next friends and family, next Salvation Army/ St. Vincent de Paul then the garbage. Value is preserved through effort and attention.

PENNY STOCK INVESTMENTS said...

Dreams will be scattered.