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Real Estate Briefing - Categorized | Finance, Market Moves, Mortgage more

Is a foreclosure Tsunami hitting the real estate market?

Posted on 24 May 2011

Since the financial crisis began in 2007, banks and lenders have almost doubled their real estate holdings, with over 872,000 homes currently in their possession, and still another million currently in the foreclosure process. According to RealtyTrac, a real estate data provider, 1 in every 593 homes received a foreclosure filing just in April 2011.
That number is even greater in many states, including California, Oregon, Michigan, Florida, and even Nevada, where 1 in every 97 homes received a foreclosure filing just last month……………………………………….Full Article: Source


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Laxman - who has written 28515 posts on Opalesque Real Estate Briefing.


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