Another Face of the Mortgage Crisis
Here in Hervey Bay many of us are sitting and watching the American sub-prime fiasco unfold and begin to have an impact on us. We see the rising cost of interest rates, the falling value of shares and investments and the possibility that it will soon impact on jobs and overall economic growth but in America others are seeing it all from a very different angle.
Over there people are walking away from their mortgages and their homes and that’s having an impact on their neighbours and neighbourhoods. ‘Homes left behind leave messes for neighbors’ from the Arizona Republic is worth reading.
