Wednesday, Nov 19, 2008

FORECLOSURE TSUNAMI: Thousands More in the Streets?

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FORECLOSURE TSUNAMI: Thousands More in the Streets? Even as Washington ducks and dodges the real issues of the descending recession, bailing out criminally irresponsible banking enterprises with hundreds of billions of tax dollars, the detritus of their folly resides in some seven million foreclosures nationwide and thousands across Minnesota. Rural and city dwellers alike find their housing values tanking while interest rate rises and fraudulently issued mortgages are turning the American dream into the nightmare we should have seen coming. Has the American penchant for getting something for nothing once again come home to roost in the streets and pocketbooks of even the once-dominant middle class? Who's really responsible for this disastrous and despairing loss of simple shelter for so many of us? TTT's ANDY DRISCOLL and LYNNELL MICKELSEN explore the ways in which our need and desire for home-ownership and real estate investment as the core of our economy have collapsed under the weight of greed and incompetence. GUESTS: • JEFF CRUMP - Associate Professor, Housing Studies, UofM College of Design • ED NELSON - Marketing/Communications Manager, Minnesota Homeownership Center • CASSANDRA WESLEY - Foreclosure Counselor, City of Saint Paul Planning & Economic Development Housing Office (INFO: 651-266-6626) *RESOURCES FOR HOUSING TROUBLES* (see St. Paul's and Homeownership Center's above): – DON’T BORROW TROUBLE Minnesota – FEDERAL RESERVE BANK of MINNEAPOLIS FORECLOSURE RESOURCE CENTER

Posted by Truth to Tell at 11:00 AM |   

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