How many people have had their homes repossessed?!

lots, and because they were sitting on their hands

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Let's see if I can keep my answer simple.

Mortgage lenders, those with their variable rate loans, have made it difficult for many. We've had a strong US economy for years until the bottom dropped out of the real estate market 2 yrs ago (largely due to over-building). That, along with the price of oil, has had a broad-spread affect that's hitting us hard.

Katrina was the worst natural disaster to ever hit our continent. It would be naive to believe that any government could have been prepared for that monster. Upon learning the storm would hit New Orleans and much of the Gulf coast, Washington, D.C. offered assistance then, but was refused by the local administration (New Orleans) and the state of Louisiana. Also, many residents in New Orleans refused to evacuate -- even though they live BELOW sea level -- making the losses even greater.

To make matters even worse, over the years the wetlands (their only natural defense against flooding) in and around New Orleans have been destroyed -- filled in and built on. The wetlands are critical to drainage. (Something I worry about here in Florida where I live -- on Hurricane Alley. I live 7 feet above sea level and our wetlands are being destroyed, too.)

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