One million served? Nope.
One million doughnuts? (Today is free doughnut day... so they're on my mind, but...) No.
Then what? One million what? Foreclosures. 1,000,000 foreclosures.
Yesterday The Huffington Post reported in "Dispatches from the Displaced" that according to the Center for Responsible Lending, foreclosures have passed the 1,000,000 mark for 2009! In the same piece they feature our story and this blog. Check it out. Dispatches from the Displaced: Los Angeles Couple Blogs their Foreclosure.
According to the Center for Responsible Lending, every 13 seconds another person/family loses their home to foreclosure. Take a visit to their site where you can see the National Foreclosure Ticker.
I don't really know what to say about that except that it seems like an awful lot for 5 months. And it really drives the point home that we're not alone in all of this.
I was interviewed for a Business Week story that is in today's issue and online. The story is titled: Foreclosure: Now an Upscale Blight and talks about how the foreclosure problem is growing and is not just about subprime anymore.
We see ourselves in this excerpt:
"The biggest factor in this second wave of foreclosures is the inability of distressed homeowners to sell in order to pay off their debts. Prices in bubble cities such as Los Angeles, Phoenix, and Miami are down less at the high end of the market than at the bottom, according to data from Standard & Poor's/Case-Shiller home price indexes. But that's cold comfort to people who haven't managed to sell at all. According to research by the National Association of Realtors, there are enough $750,000-plus homes on the market to cover more than 40 months' worth of demand at the current rate of sales. That's four times the rate of oversupply in the housing market as a whole."
That's crazy, right? Enough $750,000-plus homes to cover more than 40 months' worth of demand?! No wonder it has taken us 9+ months. And we thought one month max. Ha. Ha ha. hahahahah. Joke's on us.
HOWEVER... considering the way things are projected to worsen, we count ourselves extremely fortunate to be so close to our short sale actually happening. And we're not taking anything for granted. We can just keep doing what we're doing and approach every challenge with enthusiasm.
-Los Angeles Couple Blogs their Foreclosure - The Huffington Post
-Foreclosure: Now an Upscale Blight - Business Week
-A California Foreclosure Story: Can you be both broke and happy? - Business Week
-National Foreclosure Ticker - Center for Responsible Lending
-Doughnuts in LA: Where to celebrate National Doughnut Day - L.A. Times
Pssssssst! Free doughnuts today (June 5) at Krispy Kreme (no strings attached)