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'Housing crisis comes knocking'

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Housing crisis comes knocking

By Art C Ryter at 04/02/07 15:31

Details the foreclosure epidemic hitting the Midwest industrial states of Michigan and Ohio. As interest rates rise, more families are hit with higher mortgage payments and are unable to afford their homes. Foreclosure has affected the lives of many with no help in sight. Emigration from the region, due to a few employment opportunities, impacts the mortgage market and real estate prices, leading to more foreclosures, because prices fall and there is little demand for what housing exists.

Original source: The Boston Globe. Housing crisis comes knocking[404 Check: was link to , anchor: ] ss-Art_C_Ryter

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