Funny you mention this because I'm doing a remodel and I'm living in a hotel right now. I love it but I'm getting fat from eating out so much.
Ok, so we built an economic system based on "trickle down", but with so much wealth in places like Switzerland or the Caymans the wealth is trickling down to people who are yodeling instead of Americans. When you have almost 50 million people on food stamps you can safely say "houston we have a problem". You really can't expect the government to care about its citizens, from either party. There isn't such a thing as red vs blue in Washington, it's all about the gr$$n, and we all know it. The woman is waiting for "her" life to come back, when it likely never will, many are going through that. I am not sure how you undo what we voters allowed to happen, Americans love their political class so much that they tend to re elect them. It's either that or the whole system is so corrupt that voters have the same choices as you might find in Russia or Venezuela, hot crap or cold crap but their both crap. Great article and thanks for posting it,bill
they ought to just call it what it really was, people making bad decisions by borrowing money on sometimes a paid off house that had been in the family for years. Very few lost their house if they put 20% down and never took out the equity, even if they lost their job. The original mortgage on the houses were cheaper than living in the Ramada today. otherwise, when I was a truck driver, I spent 5 to 6k a year on motels (not average for a truck driver, but I liked it.) I often thought it would be nice to live in one. Especially if all your kids had their own room. And it wouldn't hurt to get the wife one for herself.
http://news.yahoo.com/hotel-living-norm-wealthy-nyc-apartments-063507348.html hotel living for everyone!
The first time I read about this was Jesse Livermore. It was I think when he got divorced he lived in Nyc hotels. I thought how cool is that. If I hit the lottery I wouldn't own anything. I'd live in a hotel.