Recently, the story broke that foreclosures were at the lowest level since 2007. That sounds like great news—we’re finally cleaning up the mess from the real estate bubble. Except for one thing: RealtyTrac.com, a marketer of information on foreclosed real estate, noted in April that the number of short sales (where a bank allows an owner to sell for less than is owed on the mortgage) were up by 33 percent from last year
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Doug Pibel: It’s time to create a different model for housing
Recently, the story broke that foreclosures were at the lowest level since 2007. That sounds like great news—we’re finally cleaning up the mess from the real estate bubble. Except for one thing: RealtyTrac.com, a marketer of information on foreclosed real estate, noted in April that the number of short sales (where a bank allows an owner to sell for less than is owed on the mortgage) were up by 33 percent from last year
Posted July 16, 2012