Last year, more than 1.2 million foreclosure filings nationwide were recorded by RealtyTrac, a Web site that compiles default notices, auction sales and bank repossessions. That’s up 42 percent from 2005. Based on filings for the first two months of 2007, RealtyTrac’s CEO James J. Saccacio forecast a 33 percent rise in foreclosures this year.[tags]foreclosures, real estate, real estate foreclosures, real estate bubble, housing bubble[/tags] downtown San Diego condos
3 thoughts on “Foreclosures to Rise 33% This Year!”
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Within the next few months, foreclosures will be going way up. This is just the start!
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What are all those who said there was no bubble, saying now???
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It’s pretty bad in South Florida, too. I’ve lost about 18% on my home within the last 18 months. Ouch!
I was reading the other day that we’ve lost $2.2 trillion in home equity in the US. That’s alot of money out of economy.
kristin
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