As more than 250 mayors gathered in Washington for the winter meeting of the United States Conference of Mayors, many agreed that the collapse of the subprime market had left a growing problem of vacant houses, depressed property values, tighter credit, and a need to cut services to close municipal budget gaps.
Read it all. There's real pain happening in many areas of the country. And it's unclear whether the new package agreed to today will help or not.
Friday morning update: more uncertainty about the stimulus package. I want to do a stimulus, but let's please do the right one!