Foreclosures up 53% in June.

Bank seizures were up a staggering 171%. $3.5 trillion in homeowner equity has vaporized since the peak in Spring 2006. By the end of the year between one-fourth one-third of all home sales will be bank-owned.

Nevada has the highest foreclosure rate, followed by California. The end is nowhere in sight and rising oil prices are making things worse for housing areas far from job centers.

Comments are closed.

Powered by WordPress. Designed by WooThemes