Foreclosures on million-dollar homes surge

October 11, 2008

Foreclosures on million-dollar homes surge

This 5,7000-square-foot home in Bradenton, Fla., was put on the market in 2006 for $3.78 million. Buyers are now in talks to purchase it for $1.4 million or less.The housing crisis that swept through working-class and middle-class communities across the country is now creeping into the leafy driveways and the gated communities of the nation's most exclusive towns.


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