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Thursday, July 15, 2010

Record Rate of Home Repos

Here is your link.

Not really much news in that article but I liked one statement in particular:

The root problems of job losses and wage cuts persist, making a sustained U.S. housing recovery elusive.

Did you get that? The housing recovery is elusive. I love that. It sort of rolls off your tongue in such a way that everyone listening is stuck dumb for the moment and by the time they recover you've moved on to something else.

Let me try that out in some other situations.

"Relief from the lion's chomping teeth and slashing claws was elusive."

That doesn't sound so bad. Let me try again.

"The people of New Orleans found frostbite to be elusive."

That sounds pretty good to me. Let me try one that is a little closer to the current economic situation.

"After the rope tightened around his neck the condemned man found oxygen to be elusive."

There was one other interesting statistic that the article threw out and I didn't take the time to try and verify. According to the article one in 78 homes received at least one foreclosure filing in the first six months of this year. They defined foreclosure filings as including notice of default, scheduled auction, and repossession.

Recovery seems to be elusive alright.

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