The American economy is in the tank. Millions of citizens are without jobs, overwhelmed with credit card debt, and losing their homes. The brighter side is that as a result, America has finally embraced financial reform, and the unstable economy is stabilizing marriages. Nevertheless, the United States remains in the midst of a housing crisis, and the ending remains uncertain.
There has been a media blitz about the housing crisis and Wall Street - corporate interests, but much less about the actual impact of the housing crisis on Main Street - America's working class people and small business owners. This article will also provide insight into what is really happening with the mortgage crisis and to Main Street America, why it is happening, and what can be done to save Main Street.
Jennifer M. Smith, Mortgage Foreclosures, Mortgage Morality, and Main Street: What’s Really Happening? 25 J.C. R. & Econ. Dev. 525 (2011)