Real Estate Bubble

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Tent Cities Popping Up Across America

American Tent Cities Foreclosed and homeless

The financial crisis the U.S. is facing is resulting in tent cities popping up across the nation.Tent cities have sprung up outside Los Angeles in the US as people lose their homes in the mortgage crisis.Subprime meltdown threatens American dream in Southern California.Homeless "tent city" grows amid ongoing subprime lending crisis that threatens middle-class.to many who never thought they would find themselves homeless, but had nowhere else to go after being unable to find work as the economy crumbled.As the recession worsens, tent cities are sadly beginning to pop up across America. This one is in Sacramento, California.


Tent City, U.S.A.
In the wake of the housing crash, "tent cities" have been springing up in several places in California. The story is not that new. However, it has not received much mainstream press. Therefore, many are unaware this is even happening.

The quality of some of the videos is not that good. Two of the better ones are from international writers. By the way, if you have not yet seen any of these, you may be in for a shock. Let's take a look.

Huge Tent City Forming Outside Sacramento
Economic Recovery, Economy-US, In the Loop, Mortgage & Credit Crisis, Politics-US, US news

9 March 2009 :: J.E. Robertson

An array of reports show some 1,200 people living in a growing tent city outside the California capital Sacramento, as more and more people are left homeless by the housing crisis. The UKs Daily Mail on Friday detailed the community, noting echoes of the Depression era. There are an estimated 2,000 people living in such communities around Sacramento, with foreclosure and jobless rates skyrocketing.

Smaller tent cities had been reported in Los Angeles and New Orleans over the last year, but a new photo essay, published by MSBNC, highlights both the magnitude of the Sacramento tent city and its comparison to Depression-era tent cities that emerged as homelessness became a pervasive national crisis.

The news is jolting to many who are worried that the spreading foreclosure crisis and collapse in real estate values, in combination with a faltering job market, could push families with underwater mortgages into homelessness. California is one of the wealthiest states and one of the worlds largest economies, and pressure for serious efforts to combat the economic crisis is mounting.
Police officers with box cutters showed up where St. Pete's tent city residents had moved and set up. The cops slashed their tents to the ground as residents watched in shock. Now one homeless group is moving to label St. Petersburg as the 'meanest city in the nation.' Video by Tina May.


http://geraldcelentechannel.blogspot.com/
The Great Way is gateless,
Approached in a thousand ways.
Once past this checkpoint
You stride through the universe.
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