Standing beneath a painting of founding father Samuel Adams and other greats, Berrington was seized by the feeling that she and her new fellow Americans had come to the land of opportunity late.
"I felt I was arriving at the party as it was winding down."
From 2006 to 2010 American real estate prices plummeted 30 per cent, losing a stunning $6 trillion off their value.
The tsunami of statistics that attach to the crisis stagger: 2.2 million homes are now in foreclosure with more on the way; $800 billion in existing mortgages are more than 90-days delinquent; new home sales that once stood at 1.28 million in 2005 plummeted to just 305,000 in 2011; and 2 million construction jobs have been lost.
http://www.thestar.com/news/article/...-is-dying?bn=1




Reply With Quote

Bookmarks