After a drive through the stucco on chipboard crescents of houses in Chula Vista, San Diego’s southern sprawl near the border and Tijuana, I came across this sign in hipper Hillcrest, which illustrates Matt’s post on subprime mortgage crisis this week.
- Rob
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The subprime mess is causing an increasing number of house repossessions. Ministry of Justice estimates that there will almost 45,000 repossessions in 2008 and the number is expected to be the same in 2009.
And this is despote the fact that UK has had excelent economic growth and the unemployment is at its lowest for over 10 years.
amazing. compare that with the dead malls of America….