Friday, October 3, 2008

What is a trash-out?

This video depicts something called a "trash-out." It's what happens when the owners of a US home cannot pay the mortgage. This one from a region of SoCal called "forclosure alley." Half of all homes in sold in the region today are sold on account of a mortgage foreclosure.


Hat-tip: Sullivan

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SPECIAL COVERAGE I live-blogged the spontaneous Obama victory celebration in Washington DC. Experience what it felt like to be among thousands of deliriously happy people gathered outside the White House. Click here.

Previously, I had been blogging about the Obama, McCain and the US election. I wrote about Sarah Palin on this blog even before McCain chose her to be his running mate. The choice was disappointing, and a possibility I had anticipated.

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