Talk about a sign of the times.
Ben Bernanke’s childhood home was sold at a foreclosure sale this weekend. That is correct, the Fed Chairman had to watch where he grew up sold off like millions of other properties at the courthouse steps.
“This is where it all happened,” marvels Mr. Jackson, a 27-year-old loan officer at First Citizens Bancorp, which is down the street from the old Bernanke place. “Kind of a surreal feeling, isn’t it?”
Mr. Bernanke’s family sold the property more than a decade ago. It ended up on the block late last year after its former owners fell behind on their mortgage payments. WSJ.com.
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Not that Bernanke needs a wake-up call in anyway, but I think this WSJ article sums up the housing market and state of our economy right now. A sign of the times is the best way to put it.
I believe things happen for a reason. Could be a prophetic sign for Mr. Bernanke..are his days numbered?
Hopefully this will bring home just how desperate the foreclosure crisis has become and will spur more positive action.
This is a bad news for future of real estate market….