Housing woes have domino effect
By Kathy Chu with Sharon Silke Carty, Greg Farrell, Barbara Hagenbaugh, Edward Iwata, Noelle Knox and Adam Shell
If you haven't yet felt the impact of the nation's credit crisis, just wait. Chances are, you won't have to wait long.
So far, the turmoil may feel a bit remote for average people: Failed mortgage lenders. Gargantuan write-downs by banks. Foreclosures for people who couldn't really afford the mortgages they got.
What about the rest of us? Are we in danger? No one knows for sure, but quite likely, yes.
http://www.usatoday.com/money/economy/2007-11-25-credit-crunch_N.htm
A good article from USA Today with lots of charts.
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