"Never give in. Never give in. Never." -- Churchill
He's right. Unfortunately, I let a personal challenge get me down further than it should have, and it leaked into my blogging.
So, on with whatever sort of show it is I have here...
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WASHINGTON – The number of U.S. households on the verge of losing their homes rose 7 percent from June to July, as the escalating foreclosure crisis continued to outpace government efforts to limit the damage.87,000 homes repossessed in 30 days. 87,000 families out into the street in 30 days. June had 22 working days, so that means 3,954 homes were repossessed every day, 1 every seven seconds.
Foreclosure filings were up 32 percent from the same month last year, RealtyTrac Inc. said Thursday. More than 360,000 households, or one in every 355 homes, received a foreclosure-related notice, such as a notice of default or trustee's sale. That's the highest monthly level since the foreclosure-listing firm began publishing the data more than four years ago.
Banks repossessed more than 87,000 homes in June to July, up from about 79,000 homes a month earlier.
The average American household size is 2.59 individuals, so 87,000 households means that 225,330 people were evicted from their homes in June.
360,000 households have received a "foreclosure related notice" in the same June/July period, 16,363 a day for every working day, or one every 2 seconds. That's another 932,400 ordinary Americans about to kiss the pavement.
Total in this report: 1,157,730 Americans about to - or going - homeless. And you think the unemployment numbers are bad?
Try to really, really get your head around these numbers, they are beyond horrible.
Says the article:
... as the escalating foreclosure crisis continued to outpace government efforts to limit the damage.But you know what? The cretins in the federal government are not trying to prevent these foreclosures. They are only taking action to prevent financial losses to their banker buddies - using our money - Shoveling it out by the pallet-load to their big contributors and fellow looters.
But the (really?) stock market is soaring, so move along, there's nothing to see here.
3 comments:
Thank you for the compliment. Remember that even the choir needs to be preached to, from time to time.
"The cretins in the federal government are not trying to prevent these foreclosures. They are only taking action to prevent financial losses to their banker buddies - using our money - Shoveling it out by the pallet-load to their big contributors and fellow looters."
That pretty well sums it up. As someone else pointed out, the real number to watch, though, is the number of mortgages that are 90+ days in arrears. The government can muck about with other numbers (houses foreclosed or in foreclosure), but not that one.
The housing mess was brought on by the overinflated manipulated "fair" market prices...This is all a scam tantamount to Teapot Dome right before the last big economic implosion. I'm waiting for a "bipartisan" bill from Congress suggesting the solution to the economic problem is to double everyone's taxes (Hawley-Smoot Tariff Bill), as history clears its throat to repeat itself again.
Stock market? Not sure you really want my opine on that crock. That money being shoveled into that mechanism of wealth-transfer to Khazakh bankstaz is borrowed from your great grandchildren. If this is another dead cat bounce like what we saw earlier this year, we've long since run out of carrots, so that only leaves The Stick...
Three guesses what it'll be used for, but I think you only need one!
The stock market just might hit 10,000 before it re-visits the 2500 level.
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