Friday, October 03, 2008
Here's an interesting look at all of the housing foreclosures in Southern California. My sense of this problem is that it's impacting very average Americans who were incredibly reckless with their money. It's strange for me, having been raised by parents and grandparents who wouldn't even take out credit cards for fear of debt, to fully understand gambling on the future like these people did. It's funny: we live in a blue collar Canadian town where everyone drives cheap cars or takes the bus. Every week I drive into an economically-depressed blue collar American town where everyone drives Hummers, SUVs, or luxury cars, and nobody takes the bus. I have to wonder what's going on here?
Whatever happened to the days when there was no shame in being working class?
Posted by Rufus at 10:04 AM