Thursday, July 16, 2009

Foreclosures Update

Recapping the recession in easy steps:

-The wealthy elite have captured more wealth or control of more wealth with a few minor exceptions.

-The middle class has shrunk by several million. (Note see article below) Also many in the middle class are now significantly less wealthy crimping retirement plans.

-The poor have increased their ranks with poverty among children increasing, crime increasing, and polarization increasing.

-Access to a decent job has tightened to the size of a pin hole with the exception of elite fields and a few trending opportunities in specific areas.

CNN: 1.5 million homes in foreclosure
A record 1.53 million properties were in the foreclosure process -- default notices, auction sale notices and bank repossessions -- during the first six months of 2009. That was 9% more than the previous six months and 15% more than the same period of 2008...

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