We were sitting at a wonderful Mothers Day brunch yesterday, talking about everything and anything, and my youngest son mentioned an article he had read in that morning's New York Times: Losing a Home, Then Losing All Out of Storage.
It seems that there is another chapter in the foreclosure story. When they lose their homes, Americans are using self-storage units to store their household goods and furniture. But many of the people who weren't able to handle their mortgage payments also can't keep up with their storage bills and storage companies are auctioning off their property for next to nothing.
A small industry has developed to profit from these lost and abandoned items. People are bidding, mostly sight unseen, for these odd lots, and selling anything worthwhile on eBay and at garage sales. The number of these auctions has doubled, and in depressed areas such as Detroit, it is even higher.
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