The vast majority of these foreclosures happened because people who had neither the financial wherewithal (i.e., zero down payment) nor the capability to take on the responsibiliity of homeownership were handed the keys to brand new government-financed houses, built and funded through builders who committed criminal fraud. The resulting train wreck resulted in lost property value, subdivisions full of deeriorating vacant houses (and more than the occasional homeless squatter), and taxpayers once again holding the bag. Get rid of liberal politicians and let the free market work. The result will be employment at fair wages and, ultimately, a higher standard of living for all.
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