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Something about Housing



March 23, 2008 – Comments (1) | RELATED TICKERS: GLD

Search Properties | 7 Day FREE Trial ISSUE 17 March 2008 TOP STORY U.S Foreclosure Activity Up 75 Percent in 2007

A total of 2,203,295 foreclosure filings - default notices, auction sale notices and bank repossessions - were reported on 1,285,873 properties nationwide during 2007, up 75 percent from 2006. "The year ended with a monthly increase of 7 percent in December, making it the fifth straight month with more than 200,000 foreclosure filings reported and giving the fourth quarter the highest quarterly total we've seen since we began issuing our report in January 2005," said James J. Saccacio, chief executive officer of RealtyTrac. "It also pushed the foreclosure filing total for 2007 well over 2 million. And while filings were up 75 percent, the number of properties in some stage of foreclosure was up 79 percent, indicating that some properties may have just entered the initial stage of foreclosure in 2007 and could be going through the rest of the foreclosure process in 2008 - unless lender and government intervention efforts begin to gain more traction." VIEW FULL STORY

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1 Comments – Post Your Own

#1) On March 24, 2008 at 2:53 PM, PDTBiotech (87.61) wrote:

Interesting take.  However, in my opinon now the dollar will go up and just who is proping up our dollar. We are bankrupt just read my other blogs. Soverin wealth funds will have to step in. the g-5 or g-7 bankers are manipulating the market in my humble thinking. They just don't want people to withdraw their money from the banks because the whole system will crash. If they can't cover city bank can they cover any bank? The answer is no they can't. Even if it FIDC insured. Just the cold hard facts. The country is bankrupted. Do the homework. With this week's bailout's we are stone cold broke in my humble thoughts.  Pay cash for what you want and does anyone have savings to get you through the rough time?

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