Sunday, September 23, 2007

Mortgagee sales

Article from the guardian here
If this trend continues the stragegy outlined in the essay below may become very relevant very quickly to the united states.

In the first seven months of this year there were 13,600 repossessions in Cleveland compared to 7,000 for the whole of 2006 and 3,400 annually a decade ago. Business bankruptcies are up 71% on last year. Figures released by RealtyTrac yesterday showed that in Ohio foreclosures during August leapt by 138% to 17,793. Nationwide, the number of people losing their homes jumped by 115% to 243,947.

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