and indefinite period of material prosperity,
they have only got to behave in a peaceful and helpful way
toward one another.
USA Today reports a record one million homes in foreclosure, with another 3 million behind in mortgages in the fourth quarter, a trend which will continue through '08 according to the Mortgage Bankers Association Thursday (Record: 1 Million Homes in Foreclosure.) As Real Estate Forum understatedly said in their February issue, all of this "leaves industry executives in a rather dour mood." It doesn't do much for the foreclosed upon homeowners, either.
"Nearly 3 million homeowners, 6.3%, were behind on their mortgages in the fourth quarter of last year, and more than 1 million more borrowers -- a record 2% of all loans -- were in foreclosure. The key drivers of the increase were in California and Florida, which together accounted for about 30% of the new foreclosures."
That is the news from the homeland. Soon perhaps they can truncate the cumbersome "Homeland Security" to just "Land Security" when all of the homes are gone.
On a brighter note, excess money earned by drug lords there is fueling a real estate boom in Kandahar, Afghanistan. Whose good fortune was brought courtesy of homeowners in the U.S.A. who are losing theirs.
You gotta ask yourself a question: "Who is winning the War on Drugs"? Ditto the War on Terror.
Does it really matter to you if your home is being foreclosed upon?