The current financial crisis has brought trouble to families from USA to Asia.
As always the rich are getting off the hook by getting bailed out by the government while the middle class and the poor are the ones taking the full hit.
Foreclosure rates in USA are up 30% compared to last year and almost 300 000 homes in the US got a foreclosure notice in February. Things are equally bad in UK – home repossessions are up 92% compared to the third quarter of 2008.
People who lost their jobs and who used to live from paycheck to paycheck are the first ones to lose their home – no income means not being able to afford mortgage payments. To determine how long you can sustain your current lifestyle without losing your home you should check out how to calculate how much F*CK YOU money you have.
Jobless people are forced to move out of their homes. The one’s with family and friends who are willing to take them in are in luck! There are however some people who have no other option but to live in tents.
Shanty Towns – Tent Cities of the 1930’s
Millions of people lost their homes during the Great Depression. Those who weren’t lucky ended up in Shanty Towns – tent cities built by the poor for the poor. At one point Shanty Towns or Hoovervilles as they became known later were home to more than 1 million Americans.
Tent Cities of Modern America
It might come as a surprise to a lot of Americans that just as during the Great Depression people who have lost their homes are once again flocking to live in tent cities. Here are a few pictures from a tent city in Sacramento, California.
If you are still not convinced that tent cities exist in modern America, take a look at this news report from BBC – the national TV station of Great Britain.
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