Housing Crash Continues, Now Worse Than the Great Depression

The housing crash is not over by any means. Housing prices fell another 1.

A friend of mine was living near Atlanta recently. When she moved there, there was one foreclosed house in the area. Now, 2 years later, half the homes on the block are in foreclosure. It looks like while the foreclosure crisis is lessening here in California, it is still going gangbusters or  peaking in other parts of the country.

The housing crash was caused 10

The corporate controlled mass media has done its job and has totally lied to Americans about what caused the housing crisis. The rich and the corporations who control the media are the ones who destroyed the economy in the first place, but they are never going to let you know that. I would be amazed if your average American knows why this happened. The finance reform bill that Obama passed is very weak, even though the maniacal Republicans are screaming that it is “socialism.” The bill does nothing to prevent what caused the crash from happening again.

Obama has done little to help Americans save their homes from rapacious banksters. A bill that passed only helps less than 1

The Republican Party has been absolutely vicious on this issue, refusing to help homeowners even the tiniest bit and blaming the victim, like they always do, for being irresponsible in losing their homes. Do 45-5

It’s not the Republicans who are bad. It’s the fiercely reactionary American people are no good. The Republicans are simply an expression of the fanatical rightwing nature of the American people themselves. The party is expressing their will. Apparently, reactionary Americans love plutocracy and corporate dictatorship, want to destroy the US economy and want to zero out the government at all levels. Go figure!

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0 thoughts on “Housing Crash Continues, Now Worse Than the Great Depression”

  1. The financial industry is the most highly regulated industries in America. Possibly healthcare is the only industry that is more regulated.

    The housing/mortgage market was being manipulated by the Federal Reserve, HUD, Fannie Mae, Freddie Mac, FDIC, etc. The moral hazards they created led directly to the housing bubble and subsequent crash.

    1. You’re not allowed to post rightwing propaganda on this site, particularly about economics.

      Do it one more time and I ban you.

      You can stay on the site if you refrain from rightwing propaganda.

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