Foreclosed properties hold back US economy

Most economists agree the housing crisis remains the biggest obstacle to economic recovery in the US.

But there's no consensus on how best to fix it and the rate of foreclosed properties has hit a record high.

Kristen Saloomey reports .

Category:

News & Politics

Tags:

• americasnews
• al Jazeera
• Kristen Saloomey
• Foreclosure
• youtube
• economy
• us
• Housing Crisis

[theindiekidable]

@Redfingers But the bankers live in obscene poverty. I mean, they only have two yachts - how can somebody survive with two yachts?...and only earn 6 figure sums, how are they are going to pay the politicians with that little?...and only have a top of a range Merc, how could they stand the shame?...and only destroyed the world economy once, how can anyone only do it only once? Think of the poorly little bankers...I might setup a charity for them...

[cbohar84]

@Redfingers 16 Billion dollars wont even make a dent in the housing crisis, this is more like a trillion dollar problem :/

[cesarcdx]

The US is HURRICANE without government.

[MrIsmagda]

@fedupwithR:

you are the smart ........s I read over on the democrat and chronicle of Rochester, by all means if you are so fed up with Rochester Pack and leave to another country, by the way no one knows why these people still figthing for their house and why the bank has eat it ...they screw this people and robbed them by asking money for a modification and after received it sold their home to fredi mac and screw them, don't judge if you don't know, the bank is the one refusing to work a deal

[jvolstad]

Everyone should have at least one years of cash set aside for emergencies like this. He was only unemployed for a few months? This would have never happened.

[mookixox]

@FedupwithR By all mean let's feel sorry for them. Losing your home is just plain crappy. But we also live in reality, you don't PAY, you don't STAY. It's because I rent and live within my financial means that I want the suckers to be evicted so the houses become availaible and more affordable. Keeping the suckers in a home they can't pay for keeps the houses over-priced. I deserve a housing market that isn't over-valued with losers screwing it all up.

[FedupwithR]

@mookixox

It's because I sit comfortably in my own home that I feel sorry for these unfortunate people. I think there should be a little flexibility for people in this situation. Banks could afford to wait a month or two if someone falls ill. They allow business people to pile up huge debts, millions sometimes. As for calling people "suckers" I don't.

[MrIsmagda]

Do you think banks care for the empty homes? nahhh they got pay for them the trouble now is dump to the city, county, towwn to deal with vandalized homes because they are empty, if any one think thatbanks looses money here , uff you really need a reality check and do some search and investigation, they got pay 3 times for ir, thats why they don't care.

[mookixox]

@FedupwithR If you can't pay your hotel bill you get kicked out of the hotel. You can't pay your mortgage, you lose your home. Do you own a home? Don't you want the losers to be kicked out so that the price of houses is more affordable for the next guy? Keeping suckers in a home is what is keeping the prices artificially inflated!

[FedupwithR]

So what is Max Faad-Wolf in sheep's clothing solution? Just chuck everyone out on the road probably!