Foreclosures Reach An All Time High

I am back. I took some time off to finish other projects, but now it’s time to really get serious about this site. My last post was on April 26, 2007. In that post I talked about the high foreclosure rates and the need for strict lending guide lines.

Wow, a lot has happened since the last post. The Real Estate market has collapsed and the United States is facing a major recession.

Here are a few notable items.

- The value of the dollar is at an all time low.
- Gold is at an all time high.
- Real estate market has collapsed. We have not seen the bottom yet.
- Foreclosures are at record levels
- Credit Card default is looming
- Foreign governments are moving away from U.S. dollar backed investment
- Oil is over $98 a barrel
- Los Angeles has $4.00 a gallon gas
- Major CEOs of large financial companies are resigning
- The NYSE is loosing major value, daily
- Credit is hard to come by
- Large inventory of homes nation wide

Foreclosures Nearly Double From Year Ago,” reads The New York Times.

California, Florida and Ohio are leading the charge in foreclosures. Stockton California has the dubious honor of leading the country in foreclosures.

Foreclosures mean empty houses, and empty houses means more crime… read this story from the AP regarding several communities facing increased crime due to high foreclosure rates.

The party is over and like any bad hangover only time will make it better.

Footnote: This site will be a mix of real estate news, U.S. market trends, economy commentary, and actual foreclosure listings you can, research, and purchase.

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