We're Melting

Mission Inn, RiversideFalling home values, sub-prime loans, creative financing – all have contributed to the housing mess in Southern California. Teaser rates are adjusting and the new, higher payments can’t be met. Many areas of the country have been affected but the Inland Empire has been especially hard hit. Mortgage meltdown.

I know people are losing their homes.

I know homes aren’t selling. Buyers are waiting for even lower prices or are ready to buy and can’t get a loan.

I know that those with equity lines are also affected – falling prices means less or possibly no equity.

I know that if a house stands empty it invites vandals and that causes neighborhoods to further deteriorate.

I know Riverside County saw 119% increase in default notices from a year ago, Orange County 116%, L.A. County 83%.

I know all this. I hear and read about it on a daily basis.

However, when I saw the first “bank owned” house and the first “auction” sign in a window it hit me in a different, emotional way. These aren't just investments. We're not talking only about profits/losses/ dollars/cents. These aren’t just houses. They’re homes.