Sachs and the City
Whilst Goldman Sachs prepares to handout billions in corporate bonuses to its staff, how is the rest of the US economy?
This news article grabbed my attention…
CHICAGO (Reuters) – The seven-bedroom, three-bath house in this city’s West Garfield Park neighborhood had once been someone’s American Dream.
But at a recent auction of about 100 foreclosed houses and condos, it was just Property No. 20 — and drawing no bids from a roomful of buyers despite its bargain-basement price.
“Any interest in this home at $7,000?” fast-talking auctioneer Renee Jones asked the crowd. “If not, we’ll move on.”
“The foreclosures are going to explode again.”
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