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Post by jeffolie on Aug 21, 2007 10:14:24 GMT -6
U.S. foreclosures rise sharply in July Foreclosure filings rose 9 percent from June to July and surged 93 percent over the same period last year, with Nevada, Georgia and Michigan accounting for the highest foreclosure rates nationwide, a research firm said Tuesday. "While 43 states experienced year-over-year increases in foreclosure activity, just five states — California, Florida, Michigan, Ohio and Georgia — accounted for more than half of the nation's total foreclosure filings," said RealtyTrac Chief Executive James J. Saccacio. news.yahoo.com/s/ap/foreclosure_rates;_ylt=AmRGpObiIeJMO5keRxUBu7ms0NUE
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Post by unlawflcombatnt on Aug 22, 2007 22:04:05 GMT -6
also from the same article: " There were 179,599 foreclosure filings reported during July, up from 92,845 during the same period a year ago, Irvine-based RealtyTrac Inc. said Tuesday...." July 2007's annualized rate was 2.155 million per year. July 2006's annualized rate was 1.114 million per year. That's an annualized increase of 1.04 million foreclosures. That's a potential addition of 1.114 million homes to the current supply of over 4.3 million homes on the market. Hmmmm. I wonder if the market's "bottomed out" yet?
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