The foreclosure crisis has hit reality TV! No, not a new show…although “Pimp My Short Sale” might be popular….but the fact that many of the homes featured on the highly rated reality TV show Extreme Makeover are facing foreclosure.
If you’re not a fan of the show, the premise is simple: hardship-stricken homeowners are sent on a Disney vacation while their dilapidated homes are torn down and replaced with new showcase homes.
They come home to a large cheering crowd, a spectacular new home…and a mortgage they can’t afford.
In recent seasons, homes have included extravagant swimming pools, outdoor entertainment areas and other lush amenities. Unfortunately, many of these opulent homes are in rundown neighborhoods, making them doubly tough to sell.
So the ABC-TV show’s producers have said they are scaling back for next season, reducing square footage, scaling back on the pools and the lavish landscaping.
Reality TV finally meets…reality.