Foreclosure News and Information
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As the US economy struggles out of recession, home foreclosures have touched the one million mark. Those foreclosures have hit the long-suffering city of Flint, Michigan, particularly hard. Once the home of General Motors, this declining city is now thinking of returning back to nature. Al Jazeera’s Cath Turner reports.
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The US housing crisis lies at the heart of the current recession, with a wave of forclosures sending Wall Street into a free fall as lenders were hit by hundred of billions of dollars in losses. A few months on, and the rate of foreclosures shows no signs of slowing down. In the town of Boise in Idaho, even some people with the most affordable housing are being forced to relocate, as Al Jazeera’s Tom Ackerman reports.
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The number of tenants being affected by the housing crisis are growing as foreclosures continue to rise across the US. In America, it is not just homeowners who feel the full effect of foreclosure. Many people who rent their homes, are facing eviction. Al Jazeera’s Casey Kauffman met the Hinojosa family in Los Angeles, who were recently evicted from their home.
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