In an Instant: From Affluence to Bankruptcy in Denver's Housing Meltdown

From http://TheHardestYear.com : A cross-country road trip telling the stories of ordinary Americans' experiences in the economic downturn.

Bob and Callae didnt know it, but in 2007 their family was on the precipice of a devastating slide from affluence to bankruptcy. They lived in an upscale Denver neighborhood, were members of a country club and employed a nanny for their two young boys.

The couples small business made their comfortable lifestyle possible. Builders of home developments hired Bob and Callaes company to install the underground telecommunications infrastructure to carry telephone and internet signals through the new neighborhood.

Business was booming. New homes were springing up a development spread all around Denver. They never imagined that, in a matter of months, the companys income would evaporate completely.

As Denvers housing market imploded, real estate developers canceled or even abandoned their projects. With no new homes being built, there was no need for phone and internet connections. Business for Bob and Callae declined to nearly zero.

The couples company, their primary source of income, went under and took their comfortable lifestyle down with it. They declared personal bankruptcy, lost their home of eleven years, and moved with their two young sons into a rented house to try to get back on their feet.

In this video story the couple describes the wrenching process of losing everything, finding the strength to start over and hoping they and their boys can emerge stronger for the experience. They asked that we not use their familys last name in this story, and we agreed.

Category:

News & Politics

Tags:

• bankruptcy
• denver
• developers
• housing
• mortgage
• real
• estate

[tommybarresi]

boo fuckin hoo as well

poor little princess

[conworldus]

Don't borrow....

[vivaloriflamme]

Good vid. It's generous of them to share this experience with strangers--- people who might be facing similar struggles. The husband made a mistake in not sharing the situation with his wife earlier. But it looks like they found the silver lining. Best wishes to them.

[ENDCOMESSOON]

boo hoo. i dont knock people when their doing well thats great. but dont expect me to feel bad for you when you have to live like the rest of us. i have worked at mcdonalds and a carnie to make ends meet.. do what you have to do to live. good luck in your new life. Bill.