The other housing crisis

With high unemployment comes problems with housing.

One thing I’ve noticed that separate sisters into different classes and that is the concern about having enough money to keep a roof over their head.  Unemployment and under-employment make that one difficult and once someone loses their apartment it has become almost impossible to get another one due to credit checks and background checks.

From Socialist Worker:

Keeanga-Yamahtta Taylor examines an aspect of the housing crisis that the media pay little attention to–the struggle of renters to find affordable housing.

September 16, 2010

MOST OF the news coverage of the housing crisis has focused on the plight of homeowners: declining home sales, the continuing and unabated rise of foreclosures on single-family homes, and the growing number of mortgages that are “under water”–that is, the loans are for more than the actual value of the homes, with the decline in home values.

But there’s a hidden housing crisis that gets little or no attention–the increasingly difficult struggle of millions of people to find affordable rental units, and to pay the rent once they do find someplace to live. Their numbers are only growing as the wave of foreclosures continues.

The unraveling of the housing market is having severe consequences for the economy as a whole, with no end in sight. Almost 3 million households were in foreclosure in 2009, a 21 percent increase over 2008. Another 3 million or more homes will be foreclosed on in 2010, as the unemployment crisis drags on, and people are simply unable to afford bloated and overpriced mortgage payments.

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