Saturday, June 14, 2008

Housing Crisis

I don't want to minimize the effects of the housing crisis - I feel your pain - but this does get to the heart of the matter (HT Adam Smith):

(2008-06-13) — The U.S. housing crisis reached fever pitch this month, with potential foreclosures up 48 percent compared with May 2007.

The devastation of receiving foreclosure notices has now swept through a full 2/10ths of one percent of American homes. About 1/10th of one percent of owners may lose their homes. For some of those people, it’s actually their primary residence in jeopardy, rather than a second home, rental property or vacation condo.

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