Home foreclosures are on the rise again nationwide

Kyle

Beloved Misanthrope
More Americans lost their homes in May as foreclosures move higher


Home foreclosures rose again in May as Americans continue to grapple with the ongoing cost-of-living crisis.

That is according to a new report published by real estate data provider ATTOM, which found that there were 32,621 properties in May with foreclosure filings, which includes default notices, scheduled auctions and bank repossessions.

The problem could soon get worse as high home prices, steep mortgage rates, property taxes and rising insurance premiums bite Americans.




 

HemiHauler

Well-Known Member
Likely “failed flips” or dummies who got variable rate notes. Much needed to aid in resetting prices back to this stratosphere.
 

HemiHauler

Well-Known Member
For your consideration ...



Or .... more likely that wages haven't kept pace with inflation causing people to get behind.

Could be a factor, though wage inflation outpaced broader inflation measures for about a year after Covid started and has also been for the last year or so. I know, I know, longer term measures show a different story, aren’t so volatile.


Covid-related foreclosure forbearance was in effect until 31 Dec 2023, makes sense it would take some months to start foreclosure processing for some segments of mortgagors.
 

LightRoasted

If I may ...
For your consideration ...

Could be a factor, though wage inflation outpaced broader inflation measures for about a year after Covid started and has also been for the last year or so. I know, I know, longer term measures show a different story, aren’t so volatile.


Covid-related foreclosure forbearance was in effect until 31 Dec 2023, makes sense it would take some months to start foreclosure processing for some segments of mortgagors.

Your premise would hold some water, if, if one could believe the numbers coming out of Washington. And one cannot.
 

OccamsRazor

Well-Known Member
time to scoff up those houses and fill em with non-paying squatters and illegal immigrants.
Actually, I believe the trend is for corporations to buy up available houses, pretty them up a bit (minimal investment) and then rent/lease them to dwellers for over market value. This way they make a nice profit over the mid-long term AND they get to keep the overall value of the home. Been happening all over the country (and abroad) and is the major reason why there is an affordable housing shortage for home buyers.
 
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