Foreclosures and Short Sales; A Way of Life?

By
Real Estate Agent with Prudential Ambassador Real Estate

As I walked through the grocery store on Saturday morning to pick up a box of Earl Grey tea and a bottle of Reyka, I can't help but notice two women talking about their financial troubles. In passing them, I overheard them discussing how they were going to ever own another home after being foreclosed on.

In another instance in which this topic arose was after a wonderful dinner at Magnolia's my wife and I went to the cinema and enjoyed a movie. Just before the previews began I could not help but eve's drop on a conversation two young gentlemen were having behind me. They were talking about their parents not being able to make their house payment for over 7 months, and they are getting foreclosed on.

Once accustomed to the socially acceptable conversations of the general public being concerned with the wheather, or who they shared drinks with last night; it seems as though foreclosures and short sales have become somewhat of a way of life for our society. This is evident not only in my stroll through the market or a night with my wife, but also in conversations I have had with friends, family, and clients. My discussions were directed at how their ideas of foreclosures and short sales have changed in the past few years, as the housing bubble politely bursted and caused havoc on our economy. Their answers were quite the same, as they openly discussed that these once forbidden topics are more of a small talk these days.

"Hello, nice weather huh? So, just had my first foreclosure. How about you?"

Is this what small talk has become. Could it be that with all of the media coverage and exposure that foreclosures and sub-prime lending has gotten, that we are becoming numb to the extreme devastation that this has had on our housing market and the economy? The next time you are in an elevator, instead of saying "how's the weather?" ask "how's the foreclosure forecast?"

This type of acceptance suggests that foreclosure and short sales have become a way of life in the U.S. As I sit and ponder this statement, I can only make more arguments for its validity. If you have something more to say about this topic, I'd love to hear from you. 

 

 

Comments (1)

Robert May
Robert W May - Lethbridge Real Estate - Lethbridge, AB
Real estate consulting

a topic that was completely unheard of since 1981 in my marketplace.

Dec 29, 2008 05:03 PM