History Repeating Itself....

1930s:

In the early 1930s shantytowns sprang up in cities across the United States, built by people made homeless by the Great Depression. The areas, like this one in Seattle, were nicknamed Hoovervilles because their inhabitants blamed United States president Herbert Hoover for their plight:

2008:

Tent cities have sprung up outside Los Angeles as people lose their homes in the mortgage crisis.

(This video deserves a Courtesy, but I can't find to whom. If you're that blogger, shoot me a comment and I'll give you you're due :)