Foreclosure 'Crisis' Hype: 'American Dream Slipping Away'

hursday's CBS Evening News greeted reports of a 0.83 percent 4th quarter foreclosure rate with just under 6 percent of mortgages more than a month past due as proof “the American dream” is “slipping away” since “foreclosures are spreading like cancer.”

Those may indeed be unusually high levels, but the American dream is hardly “slipping away” when 99.17 percent are not in foreclosure and 94.18 percent are paying on time or nearly on time.

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