Housing Crisis: Why Was the 1930s Moratoria Route Shut Down for Homeowners In Default 2008-20011?

Posted on November 7, 2011


One has only to watch the video from CBS News to get the scope of the problem:

The problems encountered with so much vacant housing inventory have more implications than unsightly vacant residences and all they can generate, it also has kept housing prices depressed, made many who purchased them benefit from the bad luck of others and has allowed corporate negligence to proliferate unchecked.

You have to ask yourself: how did the homeowners of the 1930s make it?  For the answer to that question, read the informative publication here.  The answer to this next question is a lot tougher:  Why wasn’t it done in 2008 ?