History repeating itself. This article says it all IMO.
There are some "For sale by owner" signs around here. I figure they're in trouble.
One house I know was foreclosed because the bank wouldn't refinance. An electrician recently did work for us & said he'd done work for these people. It makes me sad to have seen the work these people had put into their new home & now it stands empty.
On "Morning Joe", this morning, a republican senator was complaining about regulations on energy businesses, how it was stifling growth, hiring & such, at the same time the 'worm' at the bottom of the screen was stating some oil company had made record profits. Ironic.
It's here too. There are so many foreclosures in our neighborhood and surrounding areas. I went out a road that I haven't been down in years, recently. There are huge, beautiful "McMansions" sitting out there empty, with weeds 4 feet tall around them, being vandalized and falling to blight, among gorgoues, well manicured
Shifting ResponsibilityHow 50 Years of Tax CutsBenefited the Wealthiest Americanshttp://wealthforcommongood.org/wp-content/uploads/2010/04/ShiftingResponsibility.pdf