The Growing Wave of Foreclosures

Marvin Olasky writes an informative cover story for World magazine on the growing national trend in foreclosures: “The number of homes lost through foreclosure and related means was 1.7 million in 2008 and 2 million last year, according to economy.com—with 2.4 million expected this year.”
[As Thomas Sowell wrote in The Housing Boom and Bust (which I introduced here), the phenomenon is particularly concentrated in certain geographic locales, even if a general softening in the housing market remains widespread.]