Poverty and Economic Crisis

Home Prices Drop in 36 States

8 Million Foreclosure-Bound Homes to Hit the Market; Prices to Stagnate for a Decade.

http://globaleconomicanalysis.blogspot.com/2010/09/home-prices-drop-in-36-states-beazer.html



US homes lost to foreclosure up 25 pct on year

Lenders took back more homes in August than in any month since the start of the U.S. mortgage crisis.

http://www.google.com/hostednews/ap/article/ALeqM5iusd1TwuJ9nBEZDXIObne7rZTnWgD9I91I000



Home foreclosures up 37% in New York

Home foreclosure filings in New York rose nearly 37 percent in August compared to the month before, a much sharper increase than the rate for the United States, according to a new report.

http://www.bizjournals.com/albany/stories/2010/09/13/daily34.html?surround=lfn



Bailed-Out Banks Finance Predatory Payday Lenders

American taxpayers bailed out the big banks. Now many of those banks are returning the favor by extending credit to payday lenders who sucker consumers into a spiraling debt trap.

http://www.banksterusa.org/content/bailed-out-banks-finance-predatory-payday-lenders


From Information Clearing House

--------

Poverty and Economic Crisis

Rick Wolff, Truthout: "The costs of capitalism and its recurrent crises can be tallied in multiple ways. Frequently used measures include the effects of unemployment, home foreclosures, cuts in wages and job benefits, insecurity of jobs and reductions in the services provided by governments at the federal, state and local levels. The costs tallied for the current crisis - now completing its third awful year - are so huge, diverse and lasting that no final or complete count will ever be possible. There are yet other ways of seeing and measuring the costs of capitalism. One measure less frequently used concerns poverty: the consequences of consigning people to live on incomes below whatever amount the government uses to define poverty. Another less frequently used measure is the number of people without health insurance."

http://www.truth-out.org/capitalisms-poverty-problem63375



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