LA Shanty Towns
Out of context: Reply #12
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- The_CCG0
I live in LA as well, and no, this is not the normal fallout of the Credit Crisis that's going on. LA has always had a HUGE homeless population, last I heard it was 75,000 people living in LA that were cited as "homeless." What you're seeing here, if true, is an incredibly small % of the affected people that the media hypes. The important thing is that it highlights some of the 10,000's of people that never should have, in a 1000 yrs, bought the homes they did at the prices they did.
LA has become a crazy $$ place to live, no thanks whatsoever to the people, perhaps like these people, who got into a home loan on a place that elsewhere in the country would sell for $200K, but in an armpit like the RIverside area, is $500K (at a very minimum), all of which was made with a household income of ~$75K . 5th Grade level math would tell ANYONE that these homes were beyond their means.
So now the rest of us are going to suffer the economic consequences of the "American dream" that Bush sold these people on.
Sorry if anyone out there has been affected, but a lot of us have very little sympathy for the mass of people who were trying to "keep up with the Jones."