Subprime

The sub prime crisis is affecting both the growth of planned suburbs and prompting the decline of new suburbs. Is the US heading for Slumburbia?

Housing markets around the world are beginning to feel the effects of the American mortgage crisis.

California's redevelopment agencies are feeling pressure on numerous fronts these days. Some may go out of business next year. Still, state lawmakers are considering giving the agencies authority to buy out subprime mortgages.

While housing markets in the rest of the country reel from the mortgage crisis, Irvine, the city that was once home to 18 subprime lenders, is seeing its local economy suffer as the effects of high profile bankruptcies ripples to other businesses.

Cities are trying different strategies -- including lawsuits and selling off housing units for $1.00 -- to deal with mass housing abandonment.

This video from the BBC looks at the ten cities that have sprung up outside of L.A. as a result of the subprime mortgage meltdown.

Randal O'Toole believes that in the search for blame for the mortgage and credit crisis, an obvious candidate is being overlooked: city planners.

Filmmaker Danny Schechter reflects on the extent of America's debt crisis, and wonders if we need something like the Oscars to help name and identify those responsible.