Spread this message with Digg, Del.icio.us, Reddit, or Stumbleupon, and subscribe to the RSS Feed to track articles

Midwest Slammed by Housing Crisis – Seeking Help

Published 06/18/08 Jeff Bennett - Print Article
E-mail - editor@economyincisis.org

Ohioans seek to regain economic stability in the current housing crunch. The recession has made it particular difficult for Ohioans, like the rest of the nation, to retain their houses, a problem which must be alleviated.

Perhaps the problem can be attributed to the rising price of gas and other goods, but at the heart of it is the loss of Ohio jobs. Ohio – a once strong state in the production of coal and steel has lost many of those jobs. Ohio, along with the U.S., must not continue to lose precious jobs in the future to outsourcing in the ability to become a service society. As is evident with Ohio, when job losses occur, a massive melt-down of the economy and ability of its citizens to consume and maintain their homes occurs. Not a pretty picture of the American dream.

Source CNN Money:

Congress must come together on a government rescue package to resolve the nation's foreclosure crisis, which has hit Ohio particularly hard, a leading House Democrat said Monday.

"Because of the challenges it has faced economically over the past number of years with the loss of manufacturing jobs and population from certain parts of the state, Ohio was truly the canary in the coal mine of the foreclosure crisis," Waters said.

Ohio had about 12,000 foreclosure filings in May, the fifth-highest monthly total in the nation.

Click here to contact your Representative in Congress.

Unless the above article is already copyrighted, this article is licensed under a Creative Commons Attribution-No Derivative Works 3.0 United States License, EIC grants permission to use this article in whole or in part provided attribution is given, preferably in the form of a link back to EconomyInCrisis.org.