“In an Instant:” From Affluence to Bankruptcy in Denver’s Housing Meltdown
August 24, 2009
Filed under People and Places
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.
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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.
See a photo gallery from this story.
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.
Why would she stay with him after he vaporized their savings without telling her?
I’d like to believe (and am certain) there’s more to their story than the little snippet we are given. I wish them the best on their road to recovery.
They had a nanny and a housekeeper? Was she out working as well, or was she out shopping and going to brunch with her other rich society friends? I find it hard to feel bad for this couple.
Todd,
They lived the American dream, worked their butts off for that lifestyle but aren’t worthy of you feeling sorry for them?
Everybody who works hard to build their lives and becomes successful deserves the same as people who are poor and have bad things happen to them.
I don’t understand ignorant people who look down on others who have done well and can afford to have those things. Smacks of jealousy and ignorance.
I hope this couple, like any couple in a bad situation is able to get back on their feet. He is building another business so is a hard worker, he hopefully has learned the lesson of not telling his wife how bad things were getting, she didn’t deserve that but now they know better.
Good luck to them…