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Posted about 16 years ago

Pessimistic Foreclosure Future

pessimistic-foreclosure-future

The method of suicide because of the foreclosure crisis, known as “chemical death,” or "detergent suicide" appeared originally in California, and then spread to New Jersey, Missouri, and New York. New York Times wrote, also last year that it became a fashion among teenagers to use the blade to cut their arms, many of them making courage progressively to take their life that way.

There is no optimistic future. Although it is estimated that U.S. economy gave clear signs out of recession, many economists believed that the new jobs generated by economic recovery would not be enough for one third of the unemployed whose unemployment benefit period expired.

The same economists talk about "new poor" – people accustomed to benefits of middle class life that, because of redundancies depend for the first time in their lives, on the state help.

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Comments (2)

  1. It is a shame that Realtors are not held accountable for their part in taking hard working peopl's homes away from them!


  2. Susan, This post is totally confusing. Would you mind explaining this a bit further? Thanks.