These days, everyone seems so easily displaced. Unemployment rates are still rising. Home foreclosures follow the same trend. When before, suburban America was the home of the American dream with the family home with white picket fences, today it’s becoming a site for abandoned houses.
The number of homeless households in suburban and rural areas spiked by 56% in 2008 according to a government report released Thursday. Homeless individuals in these areas jumped up 34% as well. Despite these, the report states that homelessness nationwide remained relatively stable.
Between October 1, 2007 and September 30, 2008, about 1.6 million homeless people turned to facilitated housing, after using up hospitality of family or friends.
One can only fathom what “stability” means these days. Analysts have pegged this time to be an opportune time to purchase a home if you are able due to the low cost of real estate. This opportunity however, also means that many families are electing to default on mortgages and have their homes foreclosed.
Source: CNN
