Michael Dudley

The municipal bond market is drying up, which is causing Canadian cities to rethink their budgeting for infrastructure projects.

Some 12 million households now owe more on their mortgages than their homes are worth, leading economists to worry that foreclosures will continue to rise.

The media's inattention to Hurricane Ike has hidden its devastating impacts on infrastructure and the environment, as well as a poor response on the part of the federal government.

Spain's booming construction industry was fuelled by immigrant workers, who were encouraged to come to Spain. The economic crisis has now stalled many of those construction projects.

Media analysts and economists are confused about presidential candidate John McCain's proposed "Homeownership Resurgence Plan," which would see Washington spend up to $300 billion to become a "lender of last resort."