Cincinnati Real Estate: National Foreclosures hit 1.9 million in first half of 2009
It is a fact that there were 1,905,723 foreclosure filings – default notices, auction sale notices and bank repossessions in the first six months of 2009. That represents an increase of 9% from the previous six months (July – December 2008) and 15% increase over the first 6 months (January – June) of 2008 according to reporting service RSI media.
Sadly a portion of the foreclosures appearing in recent months are due to the overall economic slowdown and subsequent job loss being experienced in almost every industry. Small local companies cut back staff as the economy slowed and those staff, unable to find new positions, found themselves unable to pay their previously affordable mortgage. he 10 states with the highest foreclosure rates were Nevada, Arizona, Florida, California , Utah, Georgia, Michigan, Illinois, Idaho and Colorado. While the Cincinnati real estate market has seen price and sales volume declines, this is top 10 list I am glad Ohio is not on.
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Posts about Tri-State Real Estate (FL, GA and AL) as of August 6, 2009 | Real Estate Market Reports
Aug 6th, 2009[...] multimillion-dollar home in the fashionable Pacific Heights neighborhood in San Francisco. Cincinnati Real Estate: National Foreclosures hit 1.9 million in first hald of 2009 – cincinnatilivingonline.com 08/06/2009 It is a fact that there were 1,905,723 foreclosure [...]
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Aug 6th, 2009Cincinnati Real Estate: National Foreclosures hit 1.9 million in first hald of 2009…
It is a fact that there were 1,905,723 foreclosure filings – default notices, auction sale notices and bank repossessions in the first six months of 2009. That represents an increase of 9% from the previous six months (July – December 2008) and 15% inc…
Christopher Smith (1 comments.)
Aug 7th, 2009I think foreclosures isn’t totally the gulty for job losses, this crisis is atacking us in many aspect and in my opinion foreclosures are overblamed.