• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

City of debt shows US housing woe

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    City of debt shows US housing woe

    City of debt shows US housing woe
    By Michael Robinson
    BBC World Service

    Construction worker building a home
    The US has had an unprecedented building and house price boom

    The city of Stockton in California is at the centre of the mortgage crisis now sweeping America.

    Because, with house prices tumbling, more people in Stockton face the repossession of their homes than anywhere else in the US.

    But Stockton is also a place where you can really get a feel for the staggering amounts of money banks loaned during the boom - with few or no questions asked.

    ---

    Good article continues here. It almost made me feel sorry I do not pay BBC license fee*.

    Very interesting point in the article about how banks circumvented rules designed to prevent excessive lending - as I said those City boys that gamble people's pensions should be subject to some new harsh retrospective laws.

    The only TV I have is in the garage - never turned on, so it's all legit.

    #2
    Believe it or not, we all have access to the BBC News website too, and are able to access these stories ourselves.

    Comment

    Working...
    X