Foreclosures Don't Mean Economic Collapse

I was sent an email on April 2 which said: “In Feb 2006 there were 117,259 foreclosures alone (68% higher than 2005 and rates are going higher everyday”. At first that may sound like economic hardship for all of us. But there is another way to look at this picture. The problem with these figures is that they look at the country as a whole, and not at region by region. Real estate is LOCAL, not National. In a country of 295 million people (www.cia.gov), 117,000 is not a lot. A story may illustrate my point: Around 2002 I was living in the mountain town of Show Low Arizona. One day my husband and I drove past an unusual site for the town – a beat-up pickup with a tiny campervan on its back, parked beside the road, with a man and woma View the rest of this article