Monday, August 3, 2009
Many places in U.S like Florida, California and Nevada are facing foreclosure problems. According to a report by RealtyTrac, rising unemployment is escalating the trend elsewhere in the nation as well. According to RealtyTrac CEO James J. Saccacio "some of the markets that had the highest saturation of foreclosures over the past few years have seen declining rates, while new markets like Provo, Utah, and Boise, Idaho, have seen large increases".
Some places like Las Vegas and Orlando have seen some improvement due to deep price discounts and first time home buyer tax credits draw more people into the market.
There has been job loss; salary cut problems to foreclosure crisis in certain other states like Oregon, Arkansas, Illinois and South Carolina that previously were relatively insulated. According to Saccacio "As unemployment rates increase in different parts of the country, it's very likely that we'll see similar patterns develop elsewhere".
Some places like Las Vegas and Orlando have seen some improvement due to deep price discounts and first time home buyer tax credits draw more people into the market.
There has been job loss; salary cut problems to foreclosure crisis in certain other states like Oregon, Arkansas, Illinois and South Carolina that previously were relatively insulated. According to Saccacio "As unemployment rates increase in different parts of the country, it's very likely that we'll see similar patterns develop elsewhere".
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posted by Real Estate Investing @ 12:16 AM
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