Home Foreclosures Up In 3 Out Of 4 Metro Areas
2010 home foreclosures
RealtyTrac just reported home foreclosures rose in 3 of every four large U.S. metro areas in this year’s first half.
Banks will take over at least a record 1 million mortgages this year, RealtyTrac estimated earlier this month, noting that more than 5 million loans are seriously delinquent and face foreclosure.
5 Reasons For A Real Estate Double Dip
housing market values
1. In almost all zip codes today the total economic cost of home ownership notably exceeds the total economic cost of renting. For only a small minority is this unimportant; for them the psychic benefits of ownership are real and large.
2. The majority of owners and potential owners are pessimistic about any real increase in home prices over the next five years; many are of the view that the effective purchasing power of equity congealed in a residence will actually decline over the next decade, compared with other real stores of value Read more 