While you were sleeping...
Date: Saturday, March 24 2007
US mortgage crisis forces homeowners to take refuge in their cars
SUE ZEIDLER IN LOS ANGELES
THEY are victims of the United States' growing mortgage crisis - low-paid workers whose homes have been repossessed amid rising interest rates, a stagnant property market and a lax lending regime.
But in Los Angeles, where having a car is as essential as owning a home, many are sleeping in their vehicles to ensure a roof over their head.