The housing crisis up close and personal

Americans across the country have been hard hit by the mortgage crisis. Home values are dropping rapidly, homeowners are locked into mortgages they may never realistically pay off, and our government seems incapable of providing the kind of support vital to long term recovery.

New York Times finance reporter Louise Story takes a more personal look at the mortgage story. She visited an average block in Phoenix, Ariz. where she profiled four homeowners. Their unique experiences provide an intimate window into the recession experience. Brett Barry, an associate broker in the area says that if help doesn’t come soon, Phoenix’s housing crisis could continue for years.