Friday, Mar 23, 2007
Is this Britain's future?
New York Times: Foreclosures Force Suburbs to Fight Blight
In a sign of the spreading economic fallout of mortgage foreclosures, several suburbs of Cleveland, one of the nation’s hardest-hit cities, are spending millions of dollars to maintain vacant houses as they try to contain blight and real-estate panic.
Posted by richc @ 08:01 AM (160 views) Add Comment
2 Comments
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1. lvmreader said...
This is the very real short-term (and maybe medium term) future of the entire UK.
2. lvmreader said...
@richc
Great article. Every mortgage cheerleader needs to read this.
We need to jail every predatory lender in a hard-regime prison. We also need to seize every asset they made off this. It won't get folks their houses back, but it can prevent worse excesses in the future.
Assuming we have a future worth living.