There are plenty of statistics on the web. My guess is, that from about 120 Million homes in the USA, 15 Million are on sale and 1 Million are or will be soon in foreclosure.
Now, the exact numbers may vary, but how exact are they?
For instance, banks don’t like to get into foreclosure sales, they rather make a deal before. Some Owners opt for running away, leaving the house behind, some houses just stay there, like 76,000 in Detroit, unoccupied, falling apart.
It’s really all meaningless, because statistics can be trimmed, by whichever political party is in power.
That is how Bush covered up, that the housing market was in bad shape since 2004, when he signed a bill, that people can get a mortgage without a penny down payment.
That was the beginning of the end.
February 25th, 2010 at 3:03 pm
If one is swayed by all the reports in the press then it would be quite high. If you are a buyer then it does not matter what this percentage is as you will pay a price that is acceptable to you for the property you wish to buy and if the vendor is agreeable the sale will be finalised. The sad thing about foreclosures is that many people are suffering financial and emotional distress and not too much attention is being paid to that problem as yet.
References :
February 25th, 2010 at 3:20 pm
There are plenty of statistics on the web. My guess is, that from about 120 Million homes in the USA, 15 Million are on sale and 1 Million are or will be soon in foreclosure.
Now, the exact numbers may vary, but how exact are they?
For instance, banks don’t like to get into foreclosure sales, they rather make a deal before. Some Owners opt for running away, leaving the house behind, some houses just stay there, like 76,000 in Detroit, unoccupied, falling apart.
It’s really all meaningless, because statistics can be trimmed, by whichever political party is in power.
That is how Bush covered up, that the housing market was in bad shape since 2004, when he signed a bill, that people can get a mortgage without a penny down payment.
That was the beginning of the end.
References :