I hate to be the bearer of bad news, especially in the face of all those who want to stay positive.
The keys numbers that is not publicized or talked about much, according to this article, the growing number of home owners who are unable to afford their mortgage payment. This is one thing that is not getting better, rather worse, which will obviously curtail any policy and recovery plan of action.
Check out the article here
or cut and paste –
Keith Klassen – Real Estate Broker
Yeah unfortunately the level of distress is not disappearing, and may not for some time! However, it does seem like there’s a good number of people buying who did not purchase before and are making enough income to qualify for decent loans. I don’t think anyone really knows what’s ahead of us.
Good for buyers – not so good for sellers… that’s all I’m saying.
Thanks for the link to the article. It is a little scary “The number of new foreclosures may have dropped, but the number of people seriously behind on their mortgages has risen”