Monday, November 19, 2007

More bad news about foreclosures

CNN news had an article today about an area of Cleveland where the number of empty houses due to foreclosures are being looted for the siding, plumbing and anything that can be sold quickly.

Full CNN Cleveland article:

And just so you know - this is happening all over the country - even in wealthier enclaves like Northern Virgina. All thanks to mr 24% and the go-along-to-get-along Congress... The empty houses can be used by criminals or for dumping garbage, thus making the neighborhoods less appealing and of course then values go down and nothing sells - making it harder for the remaining homeowners to leave as they can not sell and making it very unpleasant for them to stay.

So the subprime mortgage mess is affecting many communities - and reading the market news - it's causing problems in financial markets as the banks are reeling from the bad loans....

Gee - whoda thought voting for mr 24% would have had this effect? [she says sarcastically]

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