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["Don Bowen" <don.bowen AT earthlink.net>]

> The combination of escalating resets, ever higher fuel prices, and
> unsophisticated buyers using some of the most complex financial
> instruments.
> 
> http://calculatedrisk.blogspot.com/2008/10/foreclosure-alley.html

A thought I had a bit later is How much of that stuff heading for the land
fill was bought on credit?  Not far from the Lake Elsinore mentioned there
is a furniture mall with stores with several medium and high end names
plastered on the fronts.  Many companies had plans but as home prices fell
and forclosures soared they pulled out.  A recent article showed the ghost
mall with one store with huge "Going out of business" signs.

My daughter lives in Lake Elsinore in a rental that is bank owned.  Cheap
rent just to have someone in there to keep vandals from stealing the copper
pipes and wiring.

Don Bowen  KI6DIU
http://www.braingarage.com/Dons/Travels/journal/Journal.html