Daily Economic Indicator: Rising foreclosures hurt states and economy

08/5/2010 | National Public Radio (text and audio)

The foreclosure crisis is getting worse in some states, including Massachusetts, which initially avoided the worst of the real estate meltdown. In July, banks foreclosed on more than 1,300 Massachusetts homes, more than double the rate for the same period in 2009. "The financial conditions that created this meltdown and the legal conditions that created this meltdown are still there," said Paul Collier, an attorney in Cambridge, Mass. "And until we do something about it we are going to be unable to resolve the current economic crisis."

View Full Article in:

National Public Radio (text and audio)

Published in Brief: