Although there are some signs that the economy is on its way to recovery, the foreclosure rate is not one of them. The most recent data from RealtyTrac show that rates are at an all time high. In the third quarter of 2009, one in every 136 homes in the U.S. were foreclosed on. [...]
Continue Reading →On one of many flights this week I was asked the question, “what would you do with the $700 billion of bailout money?” Not an easy question to answer and there has been lots of arm chair quarterbacking on the topic. I’m hardly an expert on financial policy, but in short this was [...]
Continue Reading →What’s so special about Cumberland, MD-WV? This energetic, small town is one of a select number of cities around the country that appears to be weathering the housing storm. While in many metropolitan areas housing prices are either stabilizing or are on a downward spiral, Cumberland’s market continues to climb. One indicator of prices, [...]
Continue Reading →The Realtytrac 3d Quarter foreclosure numbers released this week paint a grim picture for the nation’s housing market. Unprecedented foreclosure rates were reported for numerous cities. In Stockton, CA, the leader of the pack, an astounding 1 in 31 households filed for foreclosure last quarter.
What is also unsettling is the geographic pervasiveness of [...]
Continue Reading →Making the News
Here’s an eye-catching statistic: “Foreclosures cost neighbors 223 billion dollars.” This statistic comes from a study just released by the Center for Responsible Lending and its drawing a lot of attention. In their study, they take an unprecedented look at the spillover effects of the recent explosion in foreclosures [...]
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