The Foreclosure Crisis: 10 Years Later

The Foreclosure Crisis: 10 Years Later

The Foreclosure Crisis: 10 Years Later – CoreLogic recently released a report entitled, United States Residential Foreclosure Crisis: 10 Years Later, in which they examined the years leading up to the crisis all the way through to present day. With a peak in 2010 when nearly 1.2 million homes were foreclosed on, over 7.7 million families lost their homes throughout the entire foreclosure crisis. Dr. Frank Nothaft, Chief Economist for CoreLogic, had this to say,

“The country experienced a wild ride in the mortgage market between 2008 and 2012, with the foreclosure peak occurring in 2010. As we look back over 10 years of the foreclosure crisis, we cannot ignore the connection between jobs and homeownership. A healthy economy is driven by jobs coupled with consumer confidence that usually leads to homeownership.”

Since the peak, foreclosures have been steadily on the decline by nearly 100,000 per year all the way through the end of 2016, as seen in the chart below. If this trend continues, the country will be back to 2005 levels by the end of 2017. Bottom Line As the economy continues to improve, and employment numbers increase, the number of completed foreclosures should continue to decrease. To See More Blogs Like This One Please Visit My Website  Click Here Looking For A New Home, Introducing Our New Neighborhood Pages With Listings from Over 20 Cities For More Info Please Call 909-697-0823 or Visit www.celinavazquezrealtor.com Advertisements Share this:

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Like this:Like Loading... Related April 7, 2017April 7, 2017 by Celina Vazquez Home Selling Team Categories: Buyers AgentTags: celina vazquez realtor, foreclosed, foreclosures, home mortgage, homeowners, houses for sale in mira loma, jurupa valley real estate agent, neighborhood pages, property manager, sellers Leave a comment