Foreclosure crisis has ripple effect

[flashl]

Source: USA Today

The mortgage foreclosure crisis has caused a drop in cities' revenues, a spike in crime, more homelessness and an increase in vacant properties, a survey of elected local officials out today shows.


About two-thirds of 211 officials surveyed by the National League of Cities reported an increase in foreclosures in their cities in the past year, according to the online and e-mail questionnaire. A third of them reported a drop in revenues and an increase in abandoned and vacant properties and urban blight.

...

More than a fifth of city officials responding said homelessness and the need for temporary and emergency housing increased in the past year.

...

Many of the buyers were African-Americans who were enticed by zero-down mortgages on moderately priced homes. The survey shows that lower-income families, single parents, seniors and people of color are disproportionately affected by the housing crisis.


USA Today

Read more: http://www.usatoday.com/news/nation/2008-03-11-foreclosures_N.htm?csp=1

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Another ripple effect, a mobile/homeless population during election time is not a good mix.

[Trajan]

1. Ah ..... 30 years of 'Conservative' economic philosophy ....

And straight down the fucking oubliette ...

Why is it that EVERY time the GOP hold power over the economy, it goes to hell in a handbasket ?

Could it be that they are WRONG ?

Hmmmmm .... now there's a thought ....

[Greyhound]

2. Always have been, yet we (them we, not us we) keep giving them the power to exist.

Is there some inherent defect in us? It exists everywhere, but it rarely gains power and even more rarely keeps it, anywhere else.

[Wednesdays]

10. Why do we let them do this?

Just turn on the freaking news this morning. What happens to the country doesn't matter...it's all about whether the Democrats are having sex with prostitutes!

:spank:

[trthnd4jstc]

3. We cannot allow the Republicans 4 More Years!

Where our economy is is a big reason to be involved, vote Democrat, and Argue with Republicans, and Independents. We must not lose this election.

[Xenotime]

4. Agreed. Thier machine must be stopped.

Otherwise they will continue to rip this country apart.

[Orsino]

9. And we can't permit four more years of Democratic inaction, either.

There's no room for slackers. The nation's in serious trouble.

[trthnd4jstc]

11. That is a fact. Involvement in the Party is the only way to keep feet to the fire.

For us who care about the government actually serving the people, we must stay active. Often people in power behave as a privileged class. We must be ever vigilent in our own lives, and in our political lives to live a disciplined, civil, and ethical life. We must enforce this on our politicians, and party leaders also.

[lonestarnot]

5. Ah just throw some more dope in the water and move along.

[dipsydoodle]

6. There's no way................

[greyghost]

7. Priceless

[skepticscott]

8. If you're going to use that picture

you should give the context.

[TML]

12. Damn

I'm afraid that picture will come to life again someday soon.

[Tempest]

13. My town is seeing another negative affect of the mortgage meltdown

Teenagers are using the Internet to arrange parties in abandoned houses. By the time they're done partying, the appliances are gone and the houses are trashed making them impossible to sell.