Foreclosure filings drop to five-year low in September WASHINGTON -- Foreclosure filings fell in September to their lowest level in more than five years as a housing market rebound showed another sign of taking hold. Substantial decreases in California and some other states hard-hit by the collapse of the housing bubble helped reduce filings to 180,427 last month, down 7% from August and 16% from a year earlier, according to foreclosure listing firm RealtyTrac. The last time filings were that low was in July 2007. http://www.latimes.com/business/mon...s-housing-realtytrac-20121011,0,3876992.story Another sign the housing market has finally hit bottom and is starting to mend, along with the economy. To paraphrase another thread and the conservative "experts" here: Thanks Obama!
It may be that other thread in which I explained why I don't think it will help. They can have him coming or going. Briefly: either he controls this stuff and should have fixed things sooner, or it was just luck, or, the numbers lie. http://www.rocklandtimes.com/2012/10/10/jack-welch-causes-stir-with-claim-unemployment-dip-is-fake/ My own take: even his bad policies could only keep the nation down so long.
Since October 2010, here are Obama's policies: 1. Golf 2. Vacation 3. Fast and Furious 4. Libya 5. NDAA 6. 30,000 drones 7. Increased warrantless wire-tappings 8. Massive increase in welfare I could go on. Did you have anything beneficial to add?
When the news is "good" if you can call 43 straight months of 8 percent or higher unemployment, more than 20 million Americans struggling to find work, 47 million Americans on food stamps, our national debt over $16 trillion following the President’s four $1-trillion-plus annual budget deficits, and an anemic 1.7 percent in second quarter GDP growth "good", Obama gets the credit. When the news is bad it's never Obama's fault. We've been hearing about these slight up tick in indicators as the economy is moving for the last 4 years as glimmers of hope. Sorry, too little too late. Gratefully, Barry will be heading back to Chicago at the end of January.
I think the question is why are foreclosures slowing down. Is it because the economy is rebounding? Or are banks simply letting people behind on their payments stay in homes? Personally, I know two people who haven't made a payment in at least a year and foreclosure is nowhere in sight. I concede that it certainly depends on the market one is in. One of the people I'm talking about is near Milwaukee, the other in San Bernardino County in SoCal. I don't know enough about specific markets to make a judgment, but simply am asking the question based on the people I know, and realizing there are many others like them.
Just to be clear, this still is not good news. All those people who lost their homes are still not getting new ones. And people continue to lose homes. The real question is how many of these people who lost their homes to foreclosure have been able to eventually buy another house? My guess is that number is much lower now than it was in 2007.
I suspect a combination of the above More people have jobs, incomes are up a bit from their lows, housing prices have stabilized and increasing a bit, plus the most of the worst underwater cases have already gone through the system.
Too funny, you have over 45,000 posts on this forum, and every one of them is partisan. The last thing you should be criticizing is someone else's partisanship As to this thread, home foreclosures are winding down because there are fewer homes to foreclose on. It is simple math irie, and has absolutely no credit going to Obama and his failed presidency