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(English) Foreclosures: The Eye of the Storm

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5 comentarios
    • Steve Harney
      Steve Harney Dice:

      @ Jonathan,
      Great question. We must realize that delinquencies and foreclosures are two different things. The fact that delinquencies are declining is fabulous news. That means there will be less foreclosures down the road.

      However, 98% of those that are currently 90 days delinquent will turn into a distressed property of some sort. Look at the graph in the WSJ article you reference. Some of the blue will turn red. That is what this blog post is referring to. There is absolutely no conflict between my post and the article. As a matter of fact, in our blog, I linked the MBA press release that the WSJ article is reporting on.

      The WSJ itself says:

      «But the sheer volume of foreclosures still in the pipeline poses a significant challenge to housing markets across the country and is likely to keep pressure on prices. Prices tend to fall more quickly as the share of bank-owned and other distressed sales rises because banks are more motivated to sell.»

      Hope this helps.

      Responder

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