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Foreclosed Dreams

Published Monday, December 01, 2008

The Great Depression followed a housing bubble that burst, shrinking the prices of homes. Largely responsible was Americans' love affair with easy credit. The banks were quick to fund this ravenous appetite for the American Dream, but things turned sour when the banks failed to collect. These few details cannot adequately explain this economic catastrophe, but the similarities in modern times should be enough to send a shiver up the spine of any middle-class American. Very few experts would suggest that the current economic downturn could transform into a full-fledged depression. However, all agree that we have finally ...

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