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Cubans Can Now Buy And Sell Property

For the first time in over 50 years, Cuban citizens will be able to buy and sell their own homes. Since the communist revolution in 1959, Cubans have only been allowed to pass their homes onto their children or swap them through a complex and corrupt system.

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Foreclosures on the Rise

American banks foreclosed on a record number of houses last year. According to foreclosure tracker, RealtyTrac, the banks took back a million houses in 2010, and could foreclose on even more this year. In this poor economy, it’s estimated that 5 million homeowners are at least 2 months behind on mortgage payments.

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