Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Gold & Silver Prices in

Negative Equity, Foreclosures in the News

IMG Auteur
Published : March 02nd, 2012
175 words - Reading time : less than a minute
( 0 vote, 0/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...
Category : Opinions and Analysis

 

 

 

 

Corelogic and RealtyTrac are really raining on the parade that is the U.S. economic recovery (and Secret Commerce Department Report Shows the Economy May be Faltering at the CEPR isn’t helping either) as both real estate data firms provided a sobering new look at the U.S. housing market that many analysts think is poised to rebound this year.


RealtyTrac released its final report on foreclosure activity in 2011 noting that distressed sales accounted for 24 percent of all sales in the fourth quarter, up from 20 percent in the third quarter, and that the average price of a foreclosure-related sale was 29 percent below non-foreclosure sales. Corelogic reported the latest data on negative equity below, a situation that is not likely to get any better with ongoing home price declines.





With nearly a third of all borrowers either in or near negative equity, we’ll be hearing a lot more on this subject during this election year as the banks’ foreclosure mills crank up again along with talk of (and a little action on) principal writedowns.

 

 

<< Previous article
Rate : Average note :0 (0 vote)
>> Next article
Tim Iacono is the founder of Iacono Research, a subscription service providing market commentary and investment advisory services specializing in commodity based investing.
WebsiteSubscribe to his services
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
Absent Without Leave
21 JunS W.
Bail ins for sure. It was agreed at the G20 in Brisbane. You are not really a share holder. You are an unsecured creditor to the bank a...
Absent Without Leave
19 JunJ.3
Perhaps all the international shenanigans are the smoke and mirrors intended to obfuscate the view of the looming financial catastrophe. When the ...
Gold Price Cuts Post-UK Election Loss, ETF Investors Sell, Nasdaq D...
16 JunSam Maher
"the SPDR Gold Trust (NYSEArca:GLD) – saw its sharpest liquidation since March in the week-ending Thursday, with shareholders cutting the fund's si...
Things To Come
13 Junkevthorne3
If voting for 'parties' actually made a difference they would have not legalised it. Since 1914, it's been the supply of currency that has governed...
Things To Come
12 Jun Roygbiv0
And JHK ruined your life because he then voted for Obamba ? For Jim C.
Things To Come
12 JunJim C.-1
Surely Kunstler cannot be ignorant of economics, of the direct correlation between the production of wealth and Capitalism, and the subsequent crea...
The Escape from Collectivism - Jeff Thomas
10 Junsam_site-2
As I said before, collectivism depends on handicapping the public to create a nation of clinging, helpless, entitled patients and is a top priority...
The Government Is Desperate To Re-Stimulate Housing Sales - Dave Kr...
09 Junmlyons1
While they are picturesque, the Canadian Federal Parliament buildings (shown in the picture) have little connection with an article related to the ...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS