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Day 106 Swept Away

2008.04.16

The housing market in the country (and especially the Bay Area) is in decline after the insanely inflated purchasing craze in 2006 that was fueled by subprime loans. As we've started our search, we've begun running across a lot of homes that are "bank owned," like this one above, meaning that they were foreclosed on. It's a bit shocking and sad actually when I think about the vacant homes and the families that used to live there.
4 Comments
mattandbranson Yes, foreclosure can certainly destroy lives, at least in the moment. I remember when my mom lost her house. I lived 10 hours away and she was too embarassed to tell us kids and too depressed to deal with the "stuff" left behind by all of us so I lost a lot of memories. In the long run though, getting her out of the huge house where she raised a big family turned out to be good for her.
mattandbranson · 2008-04-17: 09:21
abbeyh13 yep! It is staggering the number of these homes!!!
abbeyh13 · 2008-04-17: 14:44
mandylouwho I hate thinking of all the lives that have been effected by the crisis, but if you're in the market it's to your advantage. But be careful, out here some of the foreclosed homes have strange damage (I've seen houses where they took the kitchen cabinets and light fixtures with them!).
mandylouwho · 2008-04-17: 20:26
jwideman i totally agree!
jwideman · 2008-04-19: 21:00
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