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It was a record quarter ... for foreclosures

Posted Oct 15th 2009 8:40AM by Mark Fightmaster (RSS feed)
Filed under: Economic data, Housing, Financial Crisis

It has been a great quarter for the economy, hasn't it? I mean, the economic recovery is in full swing . . . right? The Dow has eclipsed 10,000 for the first time in a year and there is absolutely no hint of the doldrums from which the economy has emerged. Not so fast, my friend.

According to RealtyTrac, an online marketer of foreclosed homes, 937,840 homes were foreclosed on during the past quarter -- a record number. That is a lot of foreclosures -- 5% more than in the second quarter and 23% more than a year ago. In fact, this means that one in every 136 homes were in foreclosure. Rick Sharga from RealtyTrac told CNNMoney: "They [the past quarter] were the worst three months of all time."

Continue reading It was a record quarter ... for foreclosures

Foreclosures increase a shocking 30% in February

Posted Mar 12th 2009 8:20AM by Mark Fightmaster (RSS feed)
Filed under: Economic data, Housing, Recession

While many major lenders took steps to stem the rising tide of foreclosures, RealtyTrac reported that the number of households facing foreclosure increased 30% compared to a year ago. Last month, roughly 291,000 homes received at least one foreclosure-related notice -- which is 6% higher than January.

Western states and Florida continue to lead the country in foreclosures (with Nevada, Arizona, and California leading the West), but RealtyTrac noted that states like Idaho, Illinois, and Oregon saw more foreclosures.

RealtyTrac's Vice President Rick Sharga noted that this data "doesn't bode well ... At least for the foreseeable future, it's going to continue to be pretty ugly."

Continue reading Foreclosures increase a shocking 30% in February

In banking fix, U.S. must remain focused on success, not justice

Posted Mar 4th 2009 1:40PM by Joseph Lazzaro (RSS feed)
Filed under: Financial Crisis

Lately, it has been as if every lesson from a first-year graduate seminar in public policy is being played out on the national stage.

Let's underscore one point: the nation appears to be nearing a policy to deal with the financial crisis. Investors should try to keep that at the forefront. Or maybe paste it on to their computer screens at work or in their home offices, so that they can maintain a sense of perspective. Yes, it's about a year late, but there was another U.S. president in charge then: the new guy's just arrived. Moreover, if calm prevails, the nation is going to get through this difficult period, this aftermath of the decade of policy errors, the decade of descent.

Continue reading In banking fix, U.S. must remain focused on success, not justice

BloggingStockCast: More foreclosures hit

Posted Jun 12th 2008 3:52PM by Tobias Buckell (RSS feed)
Filed under: Economic data, Housing, Videos

Another quarter of rising foreclosures has been observed.

Symbol Lookup
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DJIA+23.3610,457.07
NASDAQ+7.202,176.38
S&P 500+3.981,109.63

Last updated: November 25, 2009: 02:42 PM

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