Economists rate chance of recession as a 'coin flip' - USATODAY.com
"There is a 50-50 chance that the U.S. economy will sink into recession this year, but any downturn will likely be short and shallow, according to a survey of economists out Tuesday. Economists in the USA TODAY survey anticipate that after a marked slowdown in the first half of the year, consumer spending and business investment will pick up later in 2008, and unemployment will rise only slightly from current levels."
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US mortgage crisis creates ghost town Shaker Heights is a mostly minority town in Ohio and its supposed to be almost empty due to foreclosures. Houses are being broken into, entire streets are emptying out. Squatters are claiming rights. If you read some of the comments though, the article seems a little sketchy. Either way, it tries to make all the homeowners seem like innocent victims of the bank and some of them likely are, but most of them, like most others who lost their homes bought something they couldn't afford.
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Black former home owners in Cleveland as a whole are claiming foul.US blacks see 'financial apartheid' in subprime crisis
"The storm triggered by risky "subprime" loans has left many in ruins, forced out of their modest homes and furious at falling victim to financial dealings that have taken a particular toll on minority families. People of color are more than three times more likely to have subprime loans," concluded the organization United for a Fair Economy in a recent report which estimated that minorities have seen between 163 billion and 278 billion dollars of their equity go up in smoke since 2000."
"There is a 50-50 chance that the U.S. economy will sink into recession this year, but any downturn will likely be short and shallow, according to a survey of economists out Tuesday. Economists in the USA TODAY survey anticipate that after a marked slowdown in the first half of the year, consumer spending and business investment will pick up later in 2008, and unemployment will rise only slightly from current levels."
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US mortgage crisis creates ghost town Shaker Heights is a mostly minority town in Ohio and its supposed to be almost empty due to foreclosures. Houses are being broken into, entire streets are emptying out. Squatters are claiming rights. If you read some of the comments though, the article seems a little sketchy. Either way, it tries to make all the homeowners seem like innocent victims of the bank and some of them likely are, but most of them, like most others who lost their homes bought something they couldn't afford.
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Black former home owners in Cleveland as a whole are claiming foul.US blacks see 'financial apartheid' in subprime crisis
"The storm triggered by risky "subprime" loans has left many in ruins, forced out of their modest homes and furious at falling victim to financial dealings that have taken a particular toll on minority families. People of color are more than three times more likely to have subprime loans," concluded the organization United for a Fair Economy in a recent report which estimated that minorities have seen between 163 billion and 278 billion dollars of their equity go up in smoke since 2000."
