Posted on 03/27/2022 1:21:20 PM PDT by ChicagoConservative27
New data revealed a major increase between Dec. 2021 and Jan. 2022 in loans sent to foreclosure. This shows they’re on the rise.
A report from Black Knight shows that lenders took back over 2,634 homes in February 2022.
That was a 70% more than 2021.
(Excerpt) Read more at fingerlakes1.com ...
Buying opportunities?
Liawatha Warren ready to clean up again?
FWIW, there were apparently 2,824,674 foreclosures in 2009...
Seeing how we went from Trump and 2.50 gas, to $6.00 gas, from secured borders to violent wide open borders, now with the threat of WWIII and out of control inflation in every direction, I’d say a housing collapse is probably next up for the Democrats.
government created the bubble.. it’ll pop again.
Hedge funds are snapping them up
remember that the covid rules deferred repossessions for two years, so of course there is a back log.
Those rules just ending in janurary.
lenders took back over 2,634 homes in February 2022.
“2008 all over again?”
The loans aren’t quite as bad, so the property values are as inflated, but yes, it’s looking more and more like another crash. For one thing, no one can refinance anymore...the doubling of interest rates has ended that option.
Here is where a lot are being sold.
I don’t think I would ever buy real estate in New York
Yap, every bubble in history got popped. No exceptions.
All the dimwits had to do was refi when you could get 2.5%, 30yr money.
It’s almost funny. But not.
No, that’s still wayyyy below prepandemic
Hardly anyone needs to or wants to refinance. This is not even close to 2008. The mortgages are fixed vs 1 year ARMs. Huge down payments and all cash vs 0 or 3-5% down. 780 credit score vs 640. No supply vs huge supply. The annualized foreclosure #s from the article is 1% of 2009. It’s just clickbait trash
"Foreclosures of black-owned properties skyrocket under Biden administration!"
Hillary Clinton said, "We can't be responsible for every under-capitalized black mortgagee!"
Mid-level Biden administration officials heard saying things like, "The monkeys are losing their houses and falling off the bottom rung of the economic ladder."
When asked about these comments, presidential spokesman Jen Psaki replied, "Well if Trump hadn't put them on that rung they would not have fallen off the rung, would they?"
Not possible. A realtor assured me that it’s up up and away for housing prices. Sky’s the limit. 8,000 sq. ft. houses forever. It will never crash. Seriously someone really told me this.
Yes.
Yeah, I know one of those homes because I have a cousin in an isolated little town (about 15,000) in the Rocky Mountains. A disabled man had bought the property pre-covid because he needed the rental income. He had the bad luck of having awful renters there when covid hit and couldn't evict.
The daughter of this man told my cousin that these jerks were actually angling to take over the property before the eviction finally came through. Just one example of the problem with the assumption that all landlords are rich and all renters are poor that resulted from the rent moratorium.
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