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Many economists maintain the collapse of the housing market is at the root of the country's economic troubles. Reporters at two regional newspapers – the St. Paul Pioneer Press and the St. Petersburg Times make the case that those economists are on to something. Also noteworthy is a highly readable explainer from the St. Louis Post-Dispatch on why the greatest economic freefall since the Great Depression doesn’t yet feel so apocalyptic.
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3 More suburban developments are being abandoned leaving cities to clean up the mess
Bob Shaw of the St. Paul Pioneer Press
Shaw finds ghost towns are popping up across the suburbs of the Twin Cities as builders abandon building projects because of money problems. Shaw discovered that the eyesores sometimes do get rescued, to the benefit of bargain-conscious buyers. He starts his story in a swift and engaging way by looking at the local scene through the eyes of a 66-year-old resident – a kind of everyman.
For Mike Mosner, a two-toned town home looks like trouble.
2 It’s the worst economy since the great depression
Tim Logan of the St. Louis Post-Dispatch
Logan makes the excellent point that while many signs point to economic conditions now being the worst since the Great Depression, that's by now means the same as saying that things are as bad as in the Great Depression. Note how Logan uses everyday language to convey some heavy duty economic lessons.
1A case study in housing collapse
Michael Van Sickler of the St. Petersburg Times
Van Sickler grabs readers with a classic approach: a terrific lead.
Thousands of miles from the trading floors of global stock markets, an abandoned house in one of Tampa's poorest neighborhoods is an improbable place to learn about why the world's financial system is collapsing.
But if you want to understand how we got into this mess, the stucco house at 4809 N 17th St. isn't a bad place to start.
Van Sickler then delivers on his promise with a well-documented, highly detailed tale of the kind of excesses that got us into this mess.
Copyright © 2008 Donald W. Reynolds National Center for Business Journalism