Did you read Sunday’s Statesman column about “Foreclosure problem is far from a crisis”?
Originally uploaded by thenelsonproject
Columnist Scott Burns was commenting on mortgage foreclosure rates data released by RealtyTrac, a firm that compiles data on home foreclosures.
The report shows some sorry stats in various cities throughout the country but he points out that there is actually some reassuring information in the report. I think the reassuring information is especially poignant for Austin as we remain one of the healthiest real estate markets in the country.
A few of his comments that particularly caught my attention:
… “It tells me, for instance, the foreclosure crisis is a regional problem, not a systemic problem. It could become a systemic problem, of course, but we’re a long way from that.”
… “The news will disappoint the gloom and doom crew and all of those seeking the excitement of financial upheaval.”
… “About 30% of all homes are owned mortgage-free …”
… “The top foreclosure areas in American are areas of extreme price change, changes far from the national average of 46.92% in the past 5 years.”
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