“One in every 501 U.S. households either lost the home to foreclosure, received a default notice or was warned of a pending auction”
“We’ll have 1 million bank-owned properties by the end of the year,” Sharga said in an interview. “That will represent between one-fourth and one-third of all home sales”
As the summer is well into this years real estate season. Things have improved but are still in decline compared to years past. This Bloomberg article shows that continued decline and that the light at the end of the tunnel for many homeowners is still a few years away.
Foreclosures Rose 53% in June, Bank Seizures Triple [ Bloomberg ]
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