Archive for December, 2007

A note from my alter-ego the economics student

So, I research the North Coast regional economy as writer/assistant editor of the Humboldt Economic Index. This is a bit from my real estate economics hack alter-ego.

I just had a thought. Foreclosures are at the highest level our nation has seen since the Depression. Estimates are that barring Federal intervention (and perhaps in spite of it) a couple million more ARM’s will reset before the smoke clears and a solid chunk of these resets will result in foreclosures. Already in some areas it is not uncommon to see families in front yards full of furniture after a forcible eviction has been served. This amounts to a comparable, perhaps larger, refugee crisis than Katrina, just one that is not focused in such a narrow region as a single city.

The thought is just that a lot of folks need our prayers during this time. Many of them will be discovering that they have little else.

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