One site today reports that homeowner equity has leaped. But another reports the following. That's how it's going these days. It seems that for every bit of bad news, there's simultaneous good news to counter it. Investors aren't smart enough to figure out that they're being played, so the markets are pretty stable... a lot more stable than they SHOULD be!
Foreclosure activity jumps in troubling sign for housing recovery
May 2012 Foreclosure Rate Heat Map
By Allison Linn
EconomyWatch.MSNBC.MSN.com
The housing market has shown some promising signs of late, but a fresh batch of foreclosure data offers a reminder that any recovery from the housing bust will likely be slow, spotty and painful.
RealtyTrac reported Thursday that foreclosure filings rose by 9 percent in May from a month earlier, to 205,990 total properties that were subject to default notices, scheduled auctions or bank repossessions.
The jump in foreclosure activity was likely because lenders are finally getting to a backlog of homes they might have started foreclosing on last year if they weren’t facing criticism for cutting corners and pushing foreclosures through too quickly and without adequate controls, said Daren Blomquist, a vice president with RealtyTrac.
More: http://economywatch.msnbc.msn.com/_news/2012/06/14/12203711-foreclosure-activity-jumps-in-troubling-sign-for-housing-recovery?lite
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
| 