New foreclosure wave to hit ‘everyday’ borrowers. Drop in foreclosures was due to delays in procedures not improvement in the market or economy, says RealtyTrac’s Daren Blomquist. The only way out of the housing crisis is to let the market absorb distressed properties, he adds.
Early signs of uptick?
Zillow expects the resurgence in foreclosures this year, combined with excess inventory of unsold, bank-owned homes will contribute to a 3.7 percent national decline in prices before the market hits bottom in 2013 and stays there until 2016.
See the U.S. Housing Crisis Infographic
Infographic by: HomeGuide411.com
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