The housing crisis in 1933, and today.

While the real estate market is undoubtedly reeling right now due to the current mortgage meltdown, when compared to the Great Depression, the problems of today are not nearly as severe as they were back in 1933. For one thing, 50% of mortgages were in default in 1933. Today, 9% 0f mortgages are in default. This article from Marketwatch offers an interesting historical perspective of the same issues that Congress and President Obama are dealing with today to try to fix the problem and what President Roosevelt and Congress did back then to solve these problems. Read more

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