Tuesday, August 21, 2007

But the economy is doing so well!

Foreclosures jump 93 percent in July

This is simply terrifying.
There were 179,599 foreclosure filings reported during July, up from 92,845 during the same period a year-ago, Irvine-based RealtyTrac Inc. said Tuesday.

The national foreclosure rate in July was one filing for every 693 households, the firm said.


1 in every 693 homes. The mind boggles.
You know, every year, I say I hate my apartment and want to buy a small place for myself. And every year I don't. I just keep on renting. I can't even begin to imagine how scary it must be for people in this situation.

3 comments:

BOSSY said...

And don't forget "irresponsible".

demeur said...

Here's something you are not taking into consideration. If you buy a small affordable place you add to your assets and as years go by what you pay lands up being less than rent. I bought my place many moons ago. It's price then was at he lower end of compariables. My mortgage hasn't changed much over the years (taxes did go up) but those paying rent are paying 2 to 3 times what I pay.

Chuck said...

Hi Shayera!

Don't worry. In 2004 bush was telling us all that "We're turning the corner". Yeah. Right into economic collapse.

I'm hoping a loaf of bread doesn't jump to $150.00. I don't think I'd make a very good thief.