- Joined
- Sep 25, 2007
- Messages
- 201
Hi all,
The following is a "Business in Brief" column from yesterday`s edition of The Vancouver Sun.
"The number of US homes worth less than the debt owed on them reached almost 10.7 million, or 23 percent of all mortgaged properties, at the end of the third quarter, according to a report from First American CoreLogic. An additional 2.3 million mortgages are approaching "negative equity" as loan defaults mount."
As Don said at the last BC REIN meeting, a home is foreclosed on every 13 seconds in the US and it is only going to get worse (until about 2013 if I remember correctly).
Keith
The following is a "Business in Brief" column from yesterday`s edition of The Vancouver Sun.
"The number of US homes worth less than the debt owed on them reached almost 10.7 million, or 23 percent of all mortgaged properties, at the end of the third quarter, according to a report from First American CoreLogic. An additional 2.3 million mortgages are approaching "negative equity" as loan defaults mount."
As Don said at the last BC REIN meeting, a home is foreclosed on every 13 seconds in the US and it is only going to get worse (until about 2013 if I remember correctly).
Keith
