Monday, July 07, 2008

Housing Bubble Suicides

From the Sacramento Bee:

For [Sacramento County Sheriff's Deputy Mark] Habecker, the weekday patrols through Natomas, Rio Linda, Del Paso Heights and North Highlands have been a front-row seat to the personal dramas behind the numbers.

Twice this year, he says, homeowners about to be evicted have committed suicide as he approached to do a lockout.

In another case, he said a fellow Sacramento deputy found a note in the home that told him where to find the foreclosed homeowner's body.

Habecker declined to say more. The cases received no publicity when they happened.


sacramentia said...

It is so sad to hear about people losing all perspective. It's only money.

Patient Renter said...

That's sad. There are much worse things than "losing" a home that you didn't really own anyways.

Buying Time said...

Its a tragic state of affairs indeed.

I certainly hope lawmakers act to prevent the market from getting this bad in the future (curb the lending abuses, bogus appraisals, improve disclosure, change commission structure etc).

But from what I have seen, the Mortgage Bankers, Homebuilders and others in the RE profession, have been contributing record amounts to lawmakers (it was a front page WSJ article earlier in the week).

A tragic state of affairs indeed.