Mortgage Crisis
Study reports worst of US mortgage crisis still to come
By Charles Knause, September 10, 2009
A recent Deutsche Bank report made public last month indicates that the mortgage crisis for US homeowners is still in an early phase, and the worst is still to come.
California braces for new round of budget cuts
By Jack Cody, August 25, 2009
The draconian budget cuts pushed through less than a month ago by the Democratic-controlled state legislature and Republican governor in California are already being declared inadequate as new economi...
Obama mortgage plan aids banks, not homeowners
By David Walsh, August 6, 2009
The Obama administration’s home mortgage modification program, launched with great fanfare earlier this year, has assisted a mere fraction of those in danger of losing their homes, and the outrage o...
Stoking hunger and homelessness: North Carolina jobless rate remains in double-digits
By Rosa Lexington, May 23, 2009
Unemployment in North Carolina remained at 10.8 percent in April, one of eight US states with double-digit jobless rates last month.
Obama administration plan for “toxic assets”: A windfall for Wall Street
By Barry Grey, March 23, 2009
The Obama administration is expected to provide more details today of its plan to enable Wall Street banks to offload up to $1 trillion of their bad mortgage loans and other “toxic” assets at publ...
Obama’s housing plan and the American ruling class
February 21, 2009
In a statement to the parliament last Wednesday, Indian External Affairs Minister Pranab Mukherjee called on the separatist Liberation Tigers of Tamil Eelam in Sri Lanka to unconditionally surrender a...
Faces of foreclosure in Pittsburgh
Working class families feel brunt of housing crisis
By Samuel Davidson, December 22, 2008
The WSWS spoke to homeowners threatened with foreclosure at a recent meeting in Pittsburgh.
US commits $800 billion more to bail out consumer credit and mortgage market
By Patrick O’Connor, November 27, 2008
US Treasury Secretary Henry Paulson announced Tuesday another extension of the Bush administration’s bailout of the financial system, committing $800 billion towards lending programs aimed at preven...
British court ruling increases risk of home repossession
By Mike Head, November 17, 2008
A British court ruling allowing lenders to seize properties after only two missed mortgage payments has made a mockery of claims by the Brown government to be protecting ordinary people from losing th...
Political furore over Australian government’s bank guarantee
By Mike Head and Peter Symonds, October 27, 2008
Last week’s political crisis has shone a little light on the way in which the government and state bureaucracy have made available huge sums of public money to shore up the country’s largest banki...
Britain: Millions threatened with negative home equity and repossession
By Jordan Shilton, October 24, 2008
A report by Standard & Poor’s revealed that 335,000 households in Britain now find themselves in negative equity, meaning that the value of their homes has fallen below the cost of their mortgage.
Housing crisis accelerates blight in Detroit neighborhoods
By Debra Watson and Anne Moore, October 21, 2008
Dire conditions in a once prosperous East Side Detroit neighborhood underscore the impact the wave of home foreclosures is having on working people across the US.
