Thursday, August 26, 2010

Around the Block: Back to the Basics Edition

Foreclosures Hit Home With so many American’s hurting from the recession, foreclosure has become an unfortunate reality for many. Bridgeport, CT is a symbol of the housing market collapse, but with help from the Housing Development Fund, which draws upon Neighborhood Stabilization Program funds, the area is experiencing revitalization.

Save More, Spend Less? With home resale’s in the gutter(South Beach condos can now be bought for the price of a car), looming fears of a double-dip recession and uncertainty over the future of Fannie and Freddie, it comes as no surprise more Americans have chosen to tighten their belts and hold tight to their pennies. But, could this paradox of thrift world be detrimental to economic rebound?

Bernanke’s Big Day Federal Reserve Chairman Ben S. Bernanke will be speaking at a Fed symposium on Friday. He is under rising pressure to provide solutions to the economic problems that continue to mount, making this appearance “likely to be his most important since the end of the financial crisis,” according to NY Times.

Video: The city of Bridgeport, Connecticut tries to revitalize neighborhoods hard hit by defaults and foreclosures, via
Image: Bernanke outlines JP Morgan's merger in March via,

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