The GOP legacy continues. By the time Bush leaves office the US housing market will almost surely exceed 1,000,000 foreclosed homes. It's hard to imagine why Americans said "enough" of the policies and attitudes that created this disaster.
As government and industry scrambled to stem the housing crisis, another 84,868 homes were lost to foreclosure in October, according to a report released Thursday.
Last month 279,561 struggling borrowers received foreclosure filings, including default notices, notices of auction sales and bank repossessions, according to RealtyTrac, an online marketplace for foreclosures. That's a 5% increase from September, and up 25% from October 2007.
"October marks the 34th consecutive month where U.S. foreclosure activity has increased compared to the prior year," said James J. Saccacio, chief executive officer of RealtyTrac in a statement.
A total of 936,439 homes have been lost to foreclosure since the housing crisis hit in August, 2007.
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