Luxury Homes Not Immune to Foreclosure

The housing crisis is expanding to engulf luxury neighborhoods, according to a recent Wall Street Journal report. Between January and August 2008, the number of homes priced $1 million or more that are in foreclosure has grown to 7,968, up from 4,214 in the same period last year, the article indicates—and foreclosures in the $2 million-plus home category are growing even faster. Read more here. (subscription may be required)