Projecting the level of filings out for a full year would yield more than 44,000 foreclosure filings in Cook County in 2008, up about 35% from last year, she said. Cook County’s 2007 number was a record for the county, representing a 47% increase from 2006 when the county’s court system processed 22,248 foreclosure filings — also a higher-than-normal total.
It’s that bad. Paul Krugman is calling for a new Resolution Trust Corporation to soften the blow while ensuring that the Caddy-driving gambling addicts in the non-banks who helped get us into this mess don’t receive welfare-to-golden-parachute assistance from the government. TimeOut‘s cover story this week is on how to take advantage of all the misfortune. Keep a close eye on property taxes while you’re at it.