Economist and former U.S. Secretary of Labor Robert Reich says the biggest continuing problem for most Americans is their homes.
“Houses are the major assets of the middle class,” Reich writes in the Financial Times.
“Most Americans are therefore far poorer than they were six years ago. Almost one out of three homeowners with a mortgage is now ‘underwater,’ owing more to the banks than their homes are worth on the market,” writes Reich, now a professor of public policy at the University of California at Berkeley…”
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