Anyone who remembers the collapse of Lehman Brothers Holdings Inc. little more than five years ago knows what a global financial disaster is. A U.S. government default, just weeks away if Congress fails to raise the debt ceiling as it now threatens to do, will be an economic calamity like none the world has ever seen.
Kenyatta Harper, a freelancer for advertising agencies, is trading the one-bedroom Brooklyn, New York apartment she’s renting for $1,600 a month for a two-family home nearby that cost her about $600,000.
Tyl Pattisall’s timing couldn’t have been better. She and her husband bought a condominium in San Francisco three years ago when the market was depressed and sold it for a profit in June. Now she’s looking to buy again.