Yet another economically depressing article has made its way into the media and with an aptly named title, “And Now For This Morning’s Gloom…” The article, written by Henry Blodget and published in The Business Insider on May 5, 2009 offers more insight into foreclosures, job loss, and the economy.
However, there was one noticeable red flag where there was a reference to an unlikely source when discussing the implications of foreclosures on job loss. The following is a snippet from the article:
“According to RealtyTrac, job losses result in …

It looks like the foreclosure fishermen are at it again. There is no telling just how big… the foreclosure crisis is getting. The size and method of catch all depend on which statistical fisherman you ask.
RealtyTrac is just one purveyor of such foreclosure fish stories. Their figures have been up for debate for several years now. In the most recent press release the foreclosure rate per household left out one major piece of information. According to the release titled, “Foreclosure Activity Increases 9 Percent in First Quarter,” the company …