Housing and Foreclosures: The Devastation of American Dreams
The number of homeowners ensnared in the foreclosure crisis grew by more than 70 percent in the third quarter of this year compared with the same period in 2007. Across the nation, nearly 766,000 homes received at least one foreclosure-related notice from July through September. By the end of this year, more than a million bank-owned properties will have piled up on the housing market, representing around a third of all properties for sale in the U.S.
But looking beneath the financial experts’ surveys and statistical projections, one finds that in many foreclosed properties there is often furniture still sitting in the rooms, food left out on the table and clothes hanging in the closet. These are but some of the remains that tell of the many sad stories that were lived out during the last days of these homes. Every foreclosed home tells a story about somebody’s dreams having been destroyed.
Foreclosures: The Devastation of American Dreams
Housing in Times of Financial Crisis
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