Over one Million People Lost their Home in 2008

Who knows if they lost their primary residence? if only 2nd, that's nothing. 1 million is not that much when you consider how much overbuilding there were. I am gloomy about this year also, fed is doign what they can, still the situation is not gonna get better any time soon.

I agree with Mark. I don't think the storm has passed just yet. With more mortgage resets coming this year into the middle of a recession, it may be a little too soon for homebuyers to have the confidence necessary to stabilize this market. Maybe by mid to late summer though!

We'll learn from what's happened so that the so called 2nd wave of foreclosures will not be as bad. There are already measures being put into play.

and if that is not bad enough, the forecast for 2009 is equally dismal...yet the government continues to help banks consolidate and get bigger so that when they crash the pain is harder and the problems remain unsolved.

Gerda Lacey

This is nothing to do with property but I wanted to make a general comment on BW.

For what it's worth, I really like the lay out of the magazine (large page numbers, sensible "contents" list, blue color "personal business section, reasonable length articles)- it works!

This number only shows part of the picture. First off, Mortgage companies are having a much harder time selling these foreclosures than in the past and taking much bigger losses per house. Secondly, many companies have slowed down their foreclosure process figuring it is better to have someone in the house (even if not paying) than having it sit empty and subject to getting trashed. Lastly, You can not compare unemployment rates between now and 1990 (much less 1981-82) because in the early 90's they changed the way they calculate the generally reported rate to remove a large number of people out of the unemployment calculation (basically those who have been out of work for more than a year).

Do not take out mortgages you cannot afford.

People in America need to realize jus what got America in this shape...cheap... yes so-call cheap items from a foreign land.

quote*Wal-Mart firmly believes in local procurement. We recognize that by purchasing quality products, we can generate more job opportunities, support local manufacturing and boost economic development. Over 95% of the merchandise in our stores in China is sourced locally. We have established partnerships with nearly 20,000 suppliers in China. *end quote!

Now! if there be 182 country's making items for the world to buy and they have only 5% of the pie in China...duh! This company makes the nice people of China support their currency(yuan) by keeping it in their country working for the people there.... but with the yuan going up in value and the US dollar going down...all the foreign items that the American consumer buys thinking it is cheap has went up in price.

People...its all about the currency and to keep a currency strong you got to keep it floating around the country you live in so it can work for you. For the past 12 years all them US dollars are being shipped overseas to a foreign bank and with the American worker not making anything for the foreigner to buy the "we the people" have to turn to the "second" largest employer in America(Uncle Sam) to sell "we the people" debt in order to get all them dollars back!

50 years ago a foreigner would had given their left nut for a US dollar or a Hershey's chocolate bar and today the same foreigner has got Uncle Sam and the American consumer by both all the while Hershey is moving the chocolate factory to Mexico. Wake up! America and think "MADE IN AMERICA."

If there is a hidden cost of $9 billion a year to all taxpayers jus to clean fish from the ballast tanks of ships cheap items from a foreign land ain't chic!

So what about help for the people who already lost their homes? They are helping people now, but what about loan forgiveness for the ones who already lost their homes? Does any one know?

I am with Stuckey, what about the ones who already have lost their homes? Please help?

I am with Stuckey, what about the ones who already have lost their homes? Please help?