Skyrocketing foreclosures a tragedy that is still unfolding

A small cluster of men stood in the rain at 2 p.m. Friday outside 273 Cambridge St., a beige three-decker with a blue minivan parked in the driveway. Without walking through the three-family wood frame building, Michael G. Roy of Commonwealth Auction Associates opened the bidding. A couple of minutes later, the property, which sold for $304,122 in March 2005, was awarded to the bank that foreclosed on it. There was one other bidder. The auction price was not disclosed.