US Churches Face Foreclosure
(The Guardian) — The house of God has become the latest victim of the property crunch, according to a survey. Nearly 200 US churches have had their properties seized by lenders since 2008 – compared to eight in the two previous years – and more are to come. Religious leaders were just as swept up by the property boom and bust as their parishioners, according to a survey by CoStar Group. During the years of feast religious leaders took advantage of easy credit to build bigger churches and cater to bigger, richer congregations. Now the years of famine mean smaller, poorer congregations but still facing the bills for the bigger houses of worship they built.