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"March had the greatest foreclosure activity RealtyTrac has seen since it started keeping track in 2005, and "we think, in fact, the foreclosure moratoria that we'd seen, and some of the legislative delays, actually contributed to the March numbers being as high as they are," says RealtyTrac's Rick Sharga, who describes the efforts as "like trying to dam up a waterfall with bubblegum."
http://tinyurl.com/cbx2ee (broken link)
And April will be a new high, and may will be a new high...... Let housing collapse..... don't get in the way.
New York had a 90 day moratorium. we are about to get crushed.
That's what I keep hearing too LongIsland. That and people's unemployment is about to end so a new waive of foreclosures may hit soon.
I was feeling pretty sure that the housing market was on the up swing, but our local news (Youngstown, OH) JUST mentioned 30 seconds ago that the market here still sucks.
That's what I keep hearing too LongIsland. That and people's unemployment is about to end so a new waive of foreclosures may hit soon.
I was feeling pretty sure that the housing market was on the up swing, but our local news (Youngstown, OH) JUST mentioned 30 seconds ago that the market here still sucks.
Huh....
Add to that the at least 100,000 homes built with chinese drywall that families will start abandoning when the health problems get bad enough. They can't sell those homes, or afford two house payments and will leave them for the banks to deal with.
Becareful when looking at foreclosures so you don't get stuck with one of them.
It's already happening to people who bought the first wave of ditched toxic homes last Dec., and are now realizing 'something is afoul" with the place.
The junk wallboard did come into Ports in the NE. Any home built before 2001 is safe.
There was a moratorium that made the previous months numbers artificially low.
I don't consider it a "new" high but a catchup. April and May will be more realistic numbers.
March was a buildup of previous months so I would take that number with a grain of salt.
That's what I keep hearing too LongIsland. That and people's unemployment is about to end so a new waive of foreclosures may hit soon.
I was feeling pretty sure that the housing market was on the up swing, but our local news (Youngstown, OH) JUST mentioned 30 seconds ago that the market here still sucks.
Huh....
LOL...thats what they do. They stop forclosures for 90 days then celebrate that forclosures have dropped signifigantly and declare that the market drop is over.
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