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Credit Crunch Forcing U.S. Middle Classes To Live in Their Cars

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posted on Jun, 26 2008 @ 03:23 PM
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Credit Crunch Forcing U.S. Middle Classes To Live in Their Cars


www.guardian.co.uk

Homeless people living in cars and motorhomes across the US are being joined by a new breed: the middle class.

As mortgage foreclosures continue to rise, growing numbers of middle-class professionals are losing their homes and downsizing from four bedrooms to four wheels.

(visit the link for the full news article)




posted on Jun, 26 2008 @ 03:23 PM
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Beyond the "credit crunch" and housing bubble debacle, the OVERALL cost of living is quickly outpacing many people's paychecks...Gas, food, utilities, all sky-rocketing. The middle class is pretty much being wiped out with the situation we have going here. Kind of sad when operating a vehicle costs nearly as much as rent used to...


"For more working class and lower middle class people, the car is the first stop of being homeless, and sometimes it turns out to be a long stop," Gary Blasi, a University of California, Los Angeles, law professor and homelessness activist told the Associated Press.




www.guardian.co.uk
(visit the link for the full news article)



posted on Jun, 26 2008 @ 03:26 PM
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The bad thing about it, the people who make the laws don't have an idea of what we go through. They get free gas cards, vehicles, meals, plane tickets, etc. They don't know what it is like to pay for a fill up or have to decide to pay for extra groceries or go see your Mom which you haven't in two years.



posted on Jun, 26 2008 @ 03:44 PM
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It is getting to be a pretty ugly mess from what I have seen recently.


They threw the double whammy on all of us by increasing gas costs, food costs and energy costs all within the same short time frame. I feel bad for people who are losing their homes, it is getting tough for a lot of folks to keep their heads above water.

I feel especially bad for the elderly people who are on a fixed income, they seem to be hit the hardest when the economy slides. Choosing between food, health insurance and a place to live is not a fun scenario to be in for anyone.

My fear is that it will get worse before it gets better, and how long before that happens nobody seems to know. One thing is for sure, I will be chopping fire wood this fall in preperation for winter. I imagine heating oil prices will be nothing short of obscene.

Good luck out there.



posted on Jun, 26 2008 @ 04:08 PM
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Middle class? No such thing. There are those of us who make a reasonable wage (considering our skillset). And there are those like Ed McMahon who made a ridiculous amount of money. In Ed's case he still managed to blow it all.



posted on Jun, 26 2008 @ 07:27 PM
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reply to post by jhill76
 


So true Jhill...They are so out of touch with the citizens that they are 'supposed' to be representing and serving, that it's jaw-dropping anymore. The sad fact is, none of them could care less---A political seat is nothing more than a wealth and power generator to these people, and they are all out for only themselves and their Elitist puppeteers. The little folks are non-relevant. Just look at how all the fraudulent lenders were bailed out by the equally fraudulent fed, while millions are ending up foreclosed and homeless simultaniously. Shows where the priorities firmly lie---And it AIN'T with 'us'.



posted on Jun, 26 2008 @ 07:37 PM
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I gotta be honest with you, I know things aren't good, but they could very well get worse.

I'm sure this might actually be a benefit in the long run. Sometimes you have to cull the obstinate to make things better. Living outside our means is finally starting to bite us in the ***.

I'm kinda hoping the entire credit industry tanks.

As to food prices, PLEASE GOD stop putting ethanol in our gas.



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