This suburban family house on Long Island, New York, has been repossessed and put up for auction after the owner defaulted on the mortgage. With five million adjustable rate mortgages due to be reset over the coming year, many more homeowners will face financial trouble. Already, sales of new homes in America are at their lowest for 17 years
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America enters a new Depression
In pictures: Wall Street Crash, 1929
If this is the Depression again, we'll be alright
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