“In an Instant:” From Affluence to Bankruptcy in Denver’s Housing Meltdown
Bob and Callae didn’t 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.
Bob’s small business and hard work made their comfortable lifestyle possible. Builders of home developments hired Bob and his business partner’s 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 as developments spread all around Denver. He never imagined that, in a matter of months, the company’s income would evaporate completely.
As Denver’s 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 declined to nearly zero.
The company was their primary source of income. As it dissolved, so too, did their comfortable lifestyle. 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 and finding the strength to start over. They believe their family will emerge stronger for the experience.
Bob and Called asked that we not use their family’s last name in this story, and we agreed.