This was as of the end of 2007. The foreclosure rate is probably even higher now.

“We’re seeing people give up even before they get to the reset because they couldn’t afford the home in the first place”

Some homebuyers were clueless, and really didn’t understand what they were getting into. Others figured prices would keep rising so they could pull out money or sell the house for more. Or maybe they got hustled by high pressure sleazy mortgage brokers.

Some say the government needs to intervene to save homes that are foreclosing, as was done in the depression, with a moratorium on foreclosures. But if that happens, the mortgage market will dry up, seems to me. Why would anyone fund a mortgage in a time when the government was actively negating the validity of existing mortgages? A moratorium would hurt banks (pass me a hanky, you say?) but that in turn will slow their ability to make loans, which will also hurt the economy.

So what happens to the presumed millions facing foreclosure in 2008?

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Activist Video, a video-sharing site for activists, has just launched. Looks promising, here’s one of their videos.

“THIRD WARD TX trailer
One-minute trailer for the documentary THIRD WARD TX about a group of African American artists who create Project Row Houses and breathe new life in their left-for-dead Houston neighborhood. But art, life, and real estate collide when deep-pocket developers arrive. Project Row Houses’ unexpected response offers new, creative solutions.”

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From American Leftist

Leftists make a mistake if they dismiss the mainstream political process as meaningless, or allow themselves to reflexively evaluate it in a jaded, cynical way. Why? Because the process has a social dimension as well as a political one, and leftists need to be cognizant of this social aspect in regard to being able to recognize the prospects, if any, for left activism.

They explain how an Obama run can create a space for genuine activism. But then fall back into gloom because of the primary results Tuesday. Hey, Obama is ahead in delegates, most believe Clinton has no actual chance of catching up. Will the race get nasty now? Sure, it always does. We’re just hearing random small arms gunfire now. Come September it’ll be full-on salvos of heat-seeking missiles. People get ready.

Some lefties sit on the sidelines and mock any attempt at change as not leftist enough. Then wonder why they are marginalized and ineffectual.

American Leftist makes an important point. Obama is changing the game. And that creates openings for us.

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Rep. Lacy Clay (D-MO), Sen. Barack Obama’s Missouri co-chairman and pledged Obama superdelegate, said Obama will gain the support of 50 undecided Democratic superdelegates later this week, according to the Columbia Missourian.

Said Clay: “She (Sen. Clinton) will not make up those numbers. This race is over.”

We shall see. I do find it strange that just after Clinton’s wins in TX and OH that her campaign staff is snarling at each other, according to WaPo, hardly the sign of a winning campaign.

Update: Obama spokesperson denies it.

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Congress has condoned a widespread stop-loss policy in the military which requires soldiers to involuntarily extend their tours and prolong the killing. It is time to Stop-Loss Congress!

Congress can not go home until all the troops come home.

March 10-11. Stop-loss notices will be delivered to all members of Congress in their offices.

March 12. Nonviolent civil disobedience on Capitol Hill.

Stop-Loss Congress.org

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Click the song title to play it, When the President Talks to God, is an impassioned antiwar, anti-Bush, song.

This is from Podshow, all their music can be used anywhere, no royalties or hassles. They also have videos and podcasts. This is Adam Curry’s current project, not only did he play a major role in popularizing podcasting, he helped invent it.

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Imagine a vat of liquid cow manure covering the area of five football fields and 33 feet deep. Meet California’s most alternative new energy.

The Vintage Dairy Biogas Project believes it can produce enough methane from cow manure to power 12,000 homes.

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Inhabitat calls this building plan for Azerbaijan the “Death Star Lunar Hotel.”

Me, I think these grandiose plans for New Architecture are getting just a teensy bit overblown and predict that half of them won’t ever get built.

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