Author Topic: Foreclosures from 2005 to 2021  (Read 787 times)

clarkfan1979

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Foreclosures from 2005 to 2021
« on: May 04, 2022, 01:16:57 PM »
The link below provides a nice graph to illustrate how many foreclosures we have now in comparison to the 2007-2011 housing crisis.

https://www.statista.com/statistics/798766/foreclosure-rate-usa/

There are some articles floating around reporting a 132% increase in foreclosures (April 2021 to April 2022). However, that doesn't really mean very much when foreclosures were at an all-time low in 2021.

ChpBstrd

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Re: Foreclosures from 2005 to 2021
« Reply #1 on: May 04, 2022, 01:23:01 PM »
Here's a free source for similar information:

https://fred.stlouisfed.org/series/DRSFRMACBS

We're just above Q2, 2007 levels, which is not at all a reason for either worry or comfort IMO.

shureShote

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Re: Foreclosures from 2005 to 2021
« Reply #2 on: May 04, 2022, 07:55:55 PM »
Thanks for posting that. I see a short sale here and there reported, but the last decade+ has dulled my senses. I spent 2008-2012 in metro Detroit and it became, of course, natural to see short sale / sheriff's sale homes listed everywhere. I had pretty much forgotten those days.

Certainly need to remember what the recent baseline is before passing judgment.

RobertFromTX

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Re: Foreclosures from 2005 to 2021
« Reply #3 on: May 05, 2022, 10:38:29 AM »
This reminds me that where I was in 2010-2014ish (Texas)... the statistical average home price decreased yes, but it was really because of the short-sales and foreclosures hitting the market. And a clear majority were in disrepair and would need further $ to rehab. But move-in ready houses had mostly maintained their values even through the so-called RE Bubble.

clarkfan1979

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Re: Foreclosures from 2005 to 2021
« Reply #4 on: May 05, 2022, 10:20:21 PM »
This reminds me that where I was in 2010-2014ish (Texas)... the statistical average home price decreased yes, but it was really because of the short-sales and foreclosures hitting the market. And a clear majority were in disrepair and would need further $ to rehab. But move-in ready houses had mostly maintained their values even through the so-called RE Bubble.

That's a really good point. I hadn't previously considered that. 

ChpBstrd

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Re: Foreclosures from 2005 to 2021
« Reply #5 on: May 06, 2022, 06:47:46 AM »
This reminds me that where I was in 2010-2014ish (Texas)... the statistical average home price decreased yes, but it was really because of the short-sales and foreclosures hitting the market. And a clear majority were in disrepair and would need further $ to rehab. But move-in ready houses had mostly maintained their values even through the so-called RE Bubble.

From my spot in the LCOL Deep South, the housing crisis of 2008-2009 was a coastal or Las Vegas phenomenon we read about or saw on TV. Our house prices didn't go up, and they didn't go down either.

This time, we're actually seeing some appreciation. Like 5% a year.