For a little perspective,

[PerryChase]

For a little perspective, here’s an article on CNN.
What seemed a big number back then is taken for granted today.

http://money.cnn.com/2007/03/27/real_estate/subprime_losses_spike/index.htm

Subprime losses lead to drop in home ownership
Despite the mortgage industry’s claims to the contrary, an advocacy group says that subprime foreclosures will leave 1 million fewer homeowners.

By Les Christie, CNNMoney.com staff writer
March 27 2007: 4:28 PM EDT

NEW YORK (CNNMoney.com) — About 2.4 million holders of subprime mortgage loans made between 1998 and 2006 will lose their properties to foreclosure, according to a report from the Center for Responsible Lending, a non-profit policy and advocacy organization for home owners.

Worse, that will result in a net home ownership loss of one million households.