July 28, 2008
Overlooked in the discussions of Freddie Mac and Fannie Mae and the bursting of the housing bubble is the plight of these formerly stable homeowners when it comes to being able to vote in the upcoming Presidential election.
The numbers of those who have lost their homes just this year is staggering. Almost a million homes lost in the first six months of this year:
Foreclosures are up 120%. Some 220,000 homes were lost to repossession in the last quarter, and another 739,714 entered foreclosure in the first quarter. That’s one in every 171 American homes involved in what Treasury Secretary Henry Paulson euphemistically calls the “housing correction”…. http://www.boomantribune.com/story/2008/7/28/142127/083 Read the rest of this entry »