Is the Worst Over?

Quick question: How much did foreclosures increase last month? 10%? 20%?
Try an 8% drop.

But the figures were still double the number reported a year ago. “It’s important to note that September’s total was still the second highest monthly total we’ve seen since we began issuing our report in January of 2005,” James Saccacio, chief executive of RealtyTrac, said in a statement.
“It’s too early to tell if September’s numbers represent a one-month lull,” he said, “or if they could signify that more buyers and investors are getting back in the market and snatching up discounted foreclosure properties, thereby providing a release valve for distressed homeowners and overwhelmed lenders.”

Posted by on October 11th, 2007 at 10:24 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.