A reader notices the surge in national foreclosure filings (up 90% year over year) with California, Florida and Ohio leading the way. Also noticed: “The median price for a U.S. home slid 1.8 percent the first three months of 2007 as the housing slump entered its second year, according to the National Association of Realtors.” And then wondered: Isn’t that already below the 1.3% decline most recently forecast by NAR?
∙ Mortgage foreclosure filings rise 90 percent in May [Chicago Tribune]
∙ Whoops, They Did It Again (NAR Revises National Forecast Once More) [SocketSite]
I know people like to tout this “we’re different” line of thinking but no area is so “different” to keep it from feeling the affects of, what bloomberg news just reported as, “… the worst housing slump since the Great Depression.”
http://www.bloomberg.com/apps/news?pid=20601087&sid=a9WrgkMoBpyI&refer=home