California and other states are likely to see an enormous wave of long-delayed foreclosure action in the coming year as banks deal more aggressively with 3.5 million seriously delinquent mortgages. And experts said that dealing with the foreclosure process, from issuing notices of default to selling repossessed homes, is likely to push housing prices lower this year before the real estate market has a chance to recover. A report from RealtyTrac, an Irvine data firm, said about 1.9 million U.S. homes were hit with default notices, foreclosures and other actions last year. That is down from 2.9 million in 2010. Seriously delinquent loans are defined as being four months in arrears.Foreclosures expected to rise, pushing home prices lower - latimes.com
Saturday, January 14, 2012
Experts: Foreclosures Expected to Rise, Pushing Home Prices Lower
Just when you thought it was safe to get back in the housing market . . .
Breaking US Dollar Collapse News
What's Behind the Decline of the US Dollar?
This is one the of the best and simplest explanations we have seen:
The U.S. dollar's downward slide is accelerating as low interest rates, inflation concerns and the massive federal budget deficit undermine the currency. - Wall Street Journal, April 23, 2011Interestingly, the Federal Reserve is responsible for, or an active participant in all three of these factors.