Foreclosure trends
The number of foreclosured filings in 2009 will top 3 million! Of course not every filing will end up being a foreclosure, far from it, but that does tell you the number of families out their that are having trouble making their monthly mortgage payments.
I have noticed in the past couple of month that foreclosure filings have started to trend downward. The real estate market in general is far from where it was 4 years ago, it might take a decade until we get back to new highs, but it is nice to see that the worst is behind us.
If you take out California, Florida, and Michigan, the trend in foreclosures actually starts to look pretty favorable. Most of the foreclosures in the U.S. happen in concentrated areas, not only in certain states, but also in specific cities and areas.
“The trend is your friend” as they say, there are still many foreclosures to come, but at least we know the worst is behind us.