Homelessness grows as more live check-to-check
By Stephanie Armour, USA TODAY
"Homelessness in major cities is escalating as more laid-off workers already living paycheck-to-paycheck wind up on the streets or in shelters.
As Americans file for bankruptcy in record numbers and credit card debt explodes, more workers are a paycheck away from losing their homes. Now the frail economy is pushing them over the edge."
"Mounting debt. Consumer debt is growing, and more homeowners are taking out loans to pay credit card debts. Foreclosures are up. Last year, there were 1.5 million bankruptcy filings by individuals — the highest on record — up from 289,000 non-business filings in 1980, according to the American Bankruptcy Institute."
It's really unbelievable that people can't keep there houses with those LOW interest rates.
What do you think will happen when rates go up?
Posted by Christine at August 15, 2003 01:18 AM