World-News

Record foreclosure filings threaten housing recovery

The total of outstanding foreclosure auction notices on Orange County homes hit 10,513 at the end of December, the highest in this housing downturn, reports ForeclosureRadar.com.

http://snipurl.com/u7rir



Record number of young Americans jobless

The U.S. economic recession has taken a particularly heavy toll on young Americans, with a record one out five black men aged 20 to 24 neither working nor in school.

http://www.reuters.com/article/idUSTRE60P0Z620100126


From Information Clearing House

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The rental breakdown

The American Prospect
by Monica Potts

01/28/10

In the 1990s, federal home-ownership policy shifted from making home-ownership available to the middle class to subsidizing home-ownership for almost everyone. In the process, renters were implicitly denigrated and federal spending allocated to support them fell. The push for home-ownership began under President Bill Clinton and reached a crescendo under President George W. Bush and his ownership [sic] society. … In Bush’s America, home-ownership was not only an unalloyed good but was imbued with a sense of moral imperative; good Americans owned homes. … But a longer-term problem also needed addressing: the shrinking stock of affordable rental housing, and the growing number of low-income renters who needed assistance...

http://www.prospect.org/cs/articles?article=the_rental_breakdown


Informant: Thomas L. Knapp



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