A Permanent Housing Collapse?

Sunday 22 August 2010

by: Shamus Cooke, t r u t h o u t | Op-Ed

The recent chaos that erupted when 30,000 people waited hours in the Atlanta, Georgia, heat to receive applications for subsidized housing is a mere symptom of a worsening national problem.

The housing market appears to be on a never-ending downward spiral, with the much-discussed "recovery" always around the next corner.

The reasons that such a recovery is impossible at the moment should be obvious: millions of people do not have jobs; millions of others work only part time; millions more work full-time but make very little money; and additional millions fear losing their jobs.