On the politics of subprime and sex party houses….

November 3, 2008

I’ve been down in Bradenton, Florida the past few days where I started my career as a journalist. After spending the weekend walking door to door to get out the vote for Barack Obama, I’m now turning my attention to reporting and plan to attend the daily 11 a.m. foreclosure sale run by the Manatee County Clerk.

There’s about 20 homes on the block today and one of the things that jumped out at me is that some of these were for pretty hefty sums — $750K and higher — which means that it’s hard to chalk this up to a problem with poor people being in over their heads as some in Congress seem to want to blame. A quick skim of Countrywide’s foreclosures for Florida — something that I first began tracking in August 2007, shows that there’s now over 2,300, a nearly four-fold increase from the 588 back then.

And, for those footnoted regulars who are interested, I drove by the infamous sex party house, which locals tell me actually wound up selling for around $650K, compared with the $1.1 million Countrywide foreclosed on it for. And I couldn’t help but chuckle at the McCain Palin signs displayed prominently outside. Glad to know that the Arizona Senator can count on the people who buy sex party houses for a song demographic!

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