Most bastions of good journalism have taken a terrible fall during the past ten years, especially The Economist. But the fall has never been so well illustrated with this quote from one of the Home Truths leader in the May 10, 2008 issue of The Economist that argues Congress should bail out “homeowners” who face mortgage problems:
…there is a case for government intervention to avoid unnecessary foreclosures. Evicting a homeowner and selling his property takes months, during which vandalism and legal fees can destroy a large part of the home’s value–and drag down the price of the neighbours’ homes as well.
Vandalism and legal fees? Did someone forget to edit this article? Or maybe they just forgot to think before writing.
Equally disturbing is the use of “homeowners”? Are we so blind we miss the problem of calling individuals who can’t pay their mortgages “homeowners”?