By the end of the year, more than 3.9 million homes will have been foreclosed in the U.S., the second year in a row that figures have broken previous records.
The figures for 2009 surpass the 3.2 million foreclosures recorded in 2008, according to a report from the group RealtyTrac Inc.
"Foreclosure filings exceeded 300,000 for the ninth straight month in November, RealtyTrac said today. A weak labor market and tight credit are 'formidable headwinds' for the economy, Federal Reserve Chairman Ben S. Bernanke said in a Dec. 7 speech in Washington. The 7.2 million jobs lost since the recession began in December 2007 are the most of any postwar economic slump, Labor Department data show. Unemployment, at 10 percent last month, won't peak until the first quarter, Quigley said."
FULL STORY: U.S. Foreclosures to Reach 3.9 Million in Second Record Year
Quantifying the Impact of Pandemic Housing Assistance
The massive federal injection of funding into housing programs has had major impacts on many Americans’ ability to stay housed and out of debt, but fears loom as the end of some funding sources nears.
New Jersey Bill Would Ease the Path to Homeownership for Low-Income Families
A bill passed by the New Jersey state legislature would discourage investors from buying and flipping homes while giving households that have experienced foreclosure first bidding rights on auction properties.
Map of Pandemic Real Estate Risk Focuses on New Jersey, Illinois, California
A new study evaluates county-level foreclosure risk, underwater home values, and more real estate market data after two years of the Covid-19 pandemic in the United States.
Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
National Parks Layoffs Will Cause Communities to Lose Billions
Thousands of essential park workers were laid off this week, just before the busy spring break season.
Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50
A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.
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Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
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