An interesting trend lately in California, Colorado and a host of other areas is that due to the real estate collapse and mortgage crisis many couples are losing their homes and many families of 5-6 people are living in a single hotel room. Its more cramped than camping but they’ve really got no choice (and obviously there is a certain element of motel life that small children shouldn’t see). It is definitely better than living in a cardboard box and clearly the hotel industry is booming and we have noticed price hikes as well. Families have stayed together even if they have divorced because they are too poor to break up. This is just another aspect of the Bush boom…when you gotta go, you go to mo(tel)s. |
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Friday, March 13, 2009
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This is the result of the Barney Frank boom. He was presented with warnings from John McCain and George Bush himself Fannie and Freddie needed more regulation. Barney said everything was fine and that the Republicans just didn't want poor people to have their own homes. I can't bear to watch Frank's righteous indignation when he played a major role in this mess. The Democrats ruled congress during Bush's last two years. What were they doing while the economy was headed towards the cliff?
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