How Car Dependency Turns Suburban Dreams into Foreclosure Nightmares

from Streetsblog Capitol Hill by Tanya Snyder

According to an analysis by the Center for Neighborhood Technology of 2002 mortgage data, 250 people applied for mortgages every day in Chicago, and only 150 were approved. The top reason for rejecting the other 100? Applicants had too much credit tied up in car ownership.

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<a href="http://dc.streetsblog.org/2011/06/07/how-car-dependency-turns-suburban-dreams-into-foreclosure-nightmares/">http://dc.streetsblog.org/2011/06/07/how-car-dependency-turns-suburban-dreams-into-foreclosure-nightmares/</a>;