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| Home Front Economy |
| U.S. Foreclosures Rise Sharply in July |
| 2007-08-21 |
| Foreclosure filings rose 9 percent from June to July and surged 93 percent over the same period last year, with Nevada, Georgia and Michigan accounting for the highest foreclosure rates nationwide, a research firm said Tuesday. The filings include default notices, auction sale notices and bank repossessions. The figures are the latest measure of the ailing housing market, which has seen defaults and foreclosures soar as financially strapped borrowers have failed to make payments or find buyers. In all, 179,599 foreclosure filings were reported during July, up from 92,845 in the year-ago month, according to Irvine-based RealtyTrac Inc. A total of 164,644 foreclosure filings were reported in June. The national foreclosure rate in July was one filing for every 693 households, the firm said. "While 43 states experienced year-over-year increases in foreclosure activity, just five states -- California, Florida, Michigan, Ohio and Georgia -- accounted for more than half of the nation's total foreclosure filings," said RealtyTrac Chief Executive James J. Saccacio... |
| Posted by:Anonymoose |
| #2 GET OFF MY YARDS YOU CRAZY DAMN KIDS and send me money for a new dawg! |
| Posted by: Thomas Woof 2007-08-21 19:25 |
| #1 Rise of Continent-consuming Mega-Cities = Megalopolises or higher. *D *** ng it, iff Amers want Suburbia = Subural of yore, WE'LL HAVE TO INVADE/TAKE OVER OTHER COUNTRIES FOR THEIR PEACE-AND-QUIET. |
| Posted by: JosephMendiola 2007-08-21 19:15 |