And so it begins. Many economists have been screaming about a bubble in the housing market. Could this Business Week report about foreclosures be signaling that the bubble has burst? Foreclosures were up 50% in March from February. 50% in one month! There were 28,190 foreclosures in March. There are currently 7,143 here in Ohio alone. This number includes home that were previously in foreclosure prior to March.
The republican power structure in this state has got to go before we become the Mississippi of the Midwest. We've lost 250,000 jobs in this state under their blunder. Now we're losing our homes.
UPDATE: OK, I screwed up the math here and have made the appropriate changes.