Monday, May 25, 2009

The beginning of a social disaster

Lured by home grants and low interest rates young families have been getting into homes they wouldn't other wise afford. When interest go up or the recession really hits we can expect this to get a lot worse:

THEY'RE the nouveau poor - thousands of ordinary families who have lost their jobs and their homes as the recession begins to bite. Just a year ago they were living middle class lives with good jobs and in comfortable neighbourhoods.

Now, thousands of families in Sydney are jobless and have nowhere to go - and charities say thousands more are just "two pay cheques" away from a similar fate.

St Vincent de Paul has recorded a six-fold increase in homeless families looking for help, the biggest increase in 120 years....

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