I opened the classified section of The Washington Post earlier this week and was greeted by a double-page spread of “Trustee’s Sale” announcements. That’s a euphemism for ‘foreclosed home sale.’
And then I turned the page and saw the same thing. And I turned the page and saw the same thing. And I turned the page and saw the same thing.
There were 12 — twelve — pages of trustee’s sale announcements in the Post classifieds that day. And now there’s news that foreclosure filings went up 65% in April. And the very foundation of wealth for generations of middle-class Americans, which was fluffed up and pimped out so successfully by Wall Street earlier this decade, continues to fall apart.