David Cooper http://www.lasvegaswinner.org The avalanche of home foreclosures that began in 2007 compromised the assets of the US banking system and undermined the entire US economy. At such climatic times, the nation’s real estate markets and the economy become tethered together, and a sustainable recovery in the economy is not possible without the sale of the bulk of the foreclosed real estate overhanging the market . We have seen this before in the Savings and Loan Crisis of the 1980s. After years of loose and questionable lending practices, regulators were forced to liquidate hundreds of savings and loans and dump their foreclosed real estate onto already-depressed real estate markets. Although the crash was most severe in Texas and other energy belt areas, the damage undermined the whole US economy. However, once the inventory of real estate was s http://tiny.cc/8wd8nw
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