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English Pronunciation News: Glut in Foreclosed Homes

Watch the video and read the news for 5/24/2011. Learn the news and study American English pronunciation. Read other English pronunciation news reports.

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The nation's large banks and mortgage lenders have amassed real estate empires due to the glut in foreclosures in recent years. All told, they own almost 900,000 homes, and they will be foreclosing on an additional one million homes. Economists are concerned that this growing inventory of distressed property will further reduce home values. In the city of Atlanta, they are repossessing eight homes for every one home that they sell. In better markets, such as Chicago and Miami, the ratio is still two to one, two repossessed homes for every one home sold.

Study the Words
1. mortgage (MOR-gij): T is silent, A reduces
--means borrowed money for a house, a house loan
2. amassed (u-MAST)
--means to grow in number, to gain in numbers
3. glut (GLUT)
--means too much of something, from "gluttony"
4. foreclosure (for-CLO-zher): use ZH sound on "s," stress 2nd syllable
--means to remove the right to have a loan due to not being able to pay
5. foreclosing (for-CLO-zing): "s" sounds like regular Z
6. economist (ee-CO-nu-mist): stress 2nd syllable, reduce second O
--one who studies the flow of money
7. distressed property (dis-TREST PRO-per-dee): -ed sounds like T
--property that has been foreclosed upon and has to be resold
8. repossessed (ree-pu-ZEST): -ed sounds like T
--means a home that has been taken back by the lender
9. ratio (RA-shee-o): "TI" sounds like SH
--a numerical comparison

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