Sunday, September 12, 2010

Canada has a habit of following the U.S. into good times and bad. But with that big country to the south of us deep in the grips of truly terrible economic times, let's hope we're not following too closely.
Here's an alarming read about the astounding amount of U.S. households going into foreclosure these days, and the equally astounding rise in homelessness happening in the big cities like Los Angeles, where homelessness grew  30 per cent between 2007 and 2009.
As the story notes, one in 400 homes went into foreclosure in July 2010. In Nevada and California, the foreclosure rates are five times higher - one in 80. Scary to contemplate where this is all going.

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