Foreclosures Up in Big Cities
According to a recent study, 75% of metro areas had increases in foreclosures this year. It may be an early warning sign that the “recovery” is still pretty fragile. But it could still all depend on which way unemployment swings.
Keep in mind, this study is just tracking large metro areas, not rural areas. Smaller communities have not been studied and I wouldn’t be surprised if they showed decreases in foreclosure activity.
I mean, where are people moving? If you’re not making it in the big city, maybe you’ll head out to the smaller towns and make things work over there.
So where are we going to see the real recovery? Where is the real strength of the American economy?
What are you seeing in your neighborhoods? Do you find more houses being bought up than being put on the market? How long do houses sit for sale?
I want to get the pulse of the economy, but not from studies that only focus on the big city. I want to hear from you guys, the ones on the street making a living off real estate. Let me know what’s happening and share what you’ve learned with everyone else in our short sale community.
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