From a recent AP article updating the latest statistics from the subprime meltdown:

“The Connecticut Post reports that foreclosures have jumped 547 percent in the New Haven-Milford area, 522 percent in the Bridgeport-Norwalk-Stamford region and 446 percent in the Hartford area.”

The article continues,

“Nationwide, it is estimated that 19 percent of subprime loans made in 2005 and 2006 will lead to foreclosure and nearly two million families will lose their homes.”

Two million Americans will lose their homes. To put that number in perspective, 2 million is bigger then the populations of Boston, Seattle and Denver combined.

Only time will tell the exact number of Americans that lose their homes. Either way, we should all be outraged at the predatory loans and stagnating middle-class wages that created a crisis of this magnitude.

Read the orginal AP article at, http://www.wtnh.com/Global/story.asp?S=7276858&nav=menu29_2

Jim Baird is the managing editor at EconomyInCrisis.org. He is a journalist and commentator. Mr. Baird studied in the Honors Politics program at the University of Edinburgh and is a graduate of The Ohio State University where he studied political science and journalism.