A Foreclosure Update

Credit card and auto loan delinquencies are rising, and more consumers are getting into a financial pickle. What about housing? Will there be a wave of foreclosures?
Steven Thomas, with Reports On Housing, provides the latest trends and foreclosure stats.
👉🏼 "Housing Debrief" - Season 5, Episode 18 👈🏼
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The content in this video is accurate as of the posting date. This is not investment advice.
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[@mbukukanyau]

It's not survival of the fitness, in California, most first time buyers are funded by the state of California for the down payment, therefore, the government is buying up houses

[@ReportsOnHousing]

The government is not buying houses. The California Dream For All only helps about 1,500 buyers, a drop in the bucket compared to the overall number of sales. It is a program that runs out of funds quickly and is equivalent to winning the lottery for those buyers who actually secure one of these loans. It has been survival of the fittest for years, you can tell by looking at the credit profiles of purchasers in California and across the US.

[@nataliekachtanova1265]

what would you said about tremendous supply increase in Florida?

[@ReportsOnHousing]

There run up in values was HUGE because of the supply and demand mix. Texas, Florida, and Idaho are home to the largest increases in supply due to rapid appreciation. They were all the hottest areas in the country during COVID through 2023.

[@cheryldanley-realtor3945]

I appreciate you and your knowledge. Thank you! Cher DE LN

[@ReportsOnHousing]

We love setting the record straight.

[@arifulislamforhad]

Very good❤❤

[@ReportsOnHousing]

Thanks!

[@mbukukanyau]

When did it become "the great reccession"?

[@ReportsOnHousing]

Not until 2008. The data lines showed the inevitable crash as early as the fall of 2005. Data lines are slow moving and it is not hard to see developing slowdowns and cracks in the market.

[@mbukukanyau]

@ReportsOnHousing The term, "the great recession" is commonly understood to refer to the market crash of 1929 and the subsequent years into the late 1930's of stagnant economic growth.
This reference perhaps should be 'the great crash' or the 'housing market collapse, 🤔?

[@ReportsOnHousing]

@@mbukukanyau, the Great Recession is the economic downturn from 2007 to 2009 resulting from the popping of the US housing bubble and global financial crisis.
What you are referring to is known as the Great Depression.

[@mbukukanyau]

@@ReportsOnHousing I understand now