Friday, September 24, 2010

Dream of Owning Home Becomes Nightmare

Mort Zuckerman, US News
Why has housing been such a core element in the story of American civilization?Culturally a decent house has been a symbol of middle-class family life. Practically, it has been a secure shelter for the children, along with access to a good free education. Financially it has been regarded as a safe store of value, a shield against the vagaries of the economy, and a long-term retirement asset. Indeed, for decades, a house has been the largest asset on the balance sheet of the average American family. In recent years, it provided boatloads of money to homeowners through recourse to...

Cleaver, Emanuel Clyburn, James E. Coble, Howard Coffman, Mike Cohen, Steve

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