econmic+crisis

=Financial crisis of 2007–2010=

The financial crisis of 2007-2010 was triggered by a liquidity shortfall in the United States banking system. It has resulted in the collapse of large financial institutions, the bailout of banks by national governments and downturns in stock markets around the world. In many areas, the housing market has also suffered, resulting in numerous ,iviction, forclouser and prolonged vacancies. This has been the worst econmic crisis since The Great depression. Job losses were spread across a wide variety of industries. Manufacturing lost 149,000 jobs, the leisure and hospitality industries cut 22,000 jobs, and the mining industry shed 1,000 positions. Even financial services jobs fell by 14,000. And because all these people lost thier jobs many of then lost thier homes and have no ther choose but to live out on the streets. Nationally, there are currently over 7 million American households that are 1-3 months in arrears in meeting their mortgage payments. 6 million of these are more than 60 days late.This means that one in seven American households is receiving foreclosure notices from their bank or mortgage-holder during any given month. Not all of these homes will fall fully into foreclosure, but the fact that so many families and individuals are scraping by so closely to the financial default line is a symptom of just how seriously the economic crisis is impacting our community.media type="youtube" key="_F94f_Ycsjs?fs=1" height="385" width="640"