All though I said this was coming I was POO POO'd off that the economy was in great shape, WELL IT HAS STARTED
Some states are handling the problem better than others, which is to be expected, but the simple explanation for this is that more and more people are struggling to afford the cost of living. Biden is ruining people’s lives.
The FOX Business Network reports:
Home foreclosures are soaring nationwide – and rising fastest in these 5 states
Home foreclosures rose again in February as Americans continue to grapple with the ongoing cost-of-living crisis.
That is according to a new report published by real estate data provider ATTOM, which found that there were 32,938 properties in February with foreclosure filings, which includes default notices, scheduled auctions and bank repossessions. That marks an 8% increase from the prior year, although it is down 1% from the previous month.
“The annual uptick in U.S. foreclosure activity hints at shifting dynamics within the housing market,” said ATTOM CEO Rob Barber. “These trends could signify evolving financial landscapes for homeowners, prompting adjustments in market strategies and lending practices.”…
Housing affordability is the worst it has been in decades, thanks to a spike in home prices and mortgage rates. Combined, the two have helped to push the typical salary required nationwide for homeownership up to $106,500 — a stunning 61% increase from the $59,000 required just four years ago, according to Zillow.
Far to many bought houses to the very edge of what they could afford because of low interest rates, b.ut what they did NOT TAKE into consideration was the issue of inflation or the costs of maintaining a much large home. Then couple on the rises we have all seen in taxes dues to higher valuations the same is true with insurance costs, gas bill, electric bills, repair bills
This is why I suggested that going into a time where foreclosure are getting ready to ramp up, COOP WILL NOT sell XOME,
1. I do not think they have control of it(own it) or have been told NOT TO SELL IT
2. Going into a climate of coming foreclosure it would be a idiotic thing to do as it would become very useful and a profit maker for COOP
EDITED
I took all political comments out of the article
