New foreclosures jumped to 0.83 percent of all home loans in the fourth quarter from 0.54 percent a year earlier.
So, if a foreclosure on your block lowers your value immediately. And if 0.83% or 1/120 homes go into foreclosure. And if the average block has 20 homes (just making up a number). Then 1/6 of all blocks will see a foreclosure.
So, if a foreclosure on your block lowers your value immediately. And if 0.83% or 1/120 homes go into foreclosure. And if the average block has 20 homes (just making up a number). Then 1/6 of all blocks will see a foreclosure.
seems more like one block is seeing all 6 foreclosures, the other 35 none.
The only way to stop the trend of foreclosures: stop the house price drop by doubling people's income and doubling the commodities' price, this will hold the house in current price and stabilize the house equity! Such an easy way to let people keeping their house why economists not even think about this solution?
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So, if a foreclosure on your block lowers your value immediately. And if 0.83% or 1/120 homes go into foreclosure. And if the average block has 20 homes (just making up a number). Then 1/6 of all blocks will see a foreclosure.
Yikes!
boring...more boring than some of the recent stuffs this website has been posting.