7 thoughts on “Big housing slump in the USA

  1. ‘Extreme Makeover’ house faces foreclosure

    …”More than 1,800 people showed up to help ABC’s “Extreme Makeover” team demolish a family’s decrepit home and replace it with a sparkling, four-bedroom mini-mansion in 2005.

    Three years later, the reality TV show’s most ambitious project at the time has become the latest victim of the foreclosure crisis.

    After the Harper family used the two-story home as collateral for a $450,000 loan, it’s set to go to auction on the steps of the Clayton County Courthouse Aug. 5. ….

    Materials and labor were donated for the home, which would have cost about $450,000 to build. Beazer Homes’ employees and company partners also raised $250,000 in contributions for the family, including scholarships for the couple’s three children and a home maintenance fund.

    ABC said in a statement that it advises each family to consult a financial planner after they get their new home. “Ultimately, financial matters are personal, and we work to respect the privacy of the families,” the network said…..”

    http://paleochick.blogspot.com/2008/07/good-idea-in-theory.html

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