MORNING LINE: ‘Caution: Recession in mirror is closer than it appears’

  There’s bad news and worse news on the American home foreclosure front today. The bad news is, foreclosures rose 81 percent in 2008 to a staggering 2.3 million, according to RealtyTrac, which as the name implies tracks realty.

  The worse news? Nevada had the highest foreclosure rate in the nation last year: “7.3 percent of housing units in some stage of default,” Bloomberg reports. That adds up to 77,693 residences – two times the 2007 figure.

  If you want more indigestion, check out www.bloomberg.com.

  Or read the different numbers from Foreclosures.com in today's Business section.

  Or, you can always walk outside your home and look up and down the block.