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
Cryptojunkies: Beware the Ides of December
15 DecBudd Ha
Great article.👍
A North Korean EMP Attack Can Create 90+ Fukushimas in the U.S.
12 DecThe Recusant1
Setting aside the sensationalist fearmongering of the article, the fact is that the NRC requires U.S. nuclear power plants to be able to shut down ...
Six Ways US Stocks Most Overvalued in History
12 DecThe Recusant
The problem with the current massive indebtedness of countries is that the central banks are now creating fantasy currency to accommodate the finan...
The Flat Earth Society Responded To A Tweet By Elon Musk: ‘Thanks F...
11 DecS W.0
Thanks for letting me state my opinion! Your comment is insulting. Try as I might I am yet to find any scientific evidence of AGW or the e...
Peter Schiff Warns Of CRASH: ‘Everybody Is Going To Get Wiped Out!’
08 DecThe Recusant
"Schiff also said no one knows when this is going to happen for sure, only that it will happen." Peter has been warning of the next crash for years...
Meet The World’s Most Powerful Bitcoin Backers
07 Decsonora69
Why run a business or work for one when you can mine bitcoins for the price of the servers and electricity? The higher the price of bitcoin, the mo...
What Now?
04 DecDoom
Mathematically, doubling down is an amazingly powerful strategy...until it isn't. http://professorconfess.blogspot.com/2017/11/doubling-do...
The Flat Earth Society Responded To A Tweet By Elon Musk: ‘Thanks F...
03 DecS W.
I put the Flat Earthers in the same category as those who believe there is a God, a Heaven and a Hell.
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS