Wikinvest Wire

Unemployment drives foreclosure rates higher

Thursday, July 30, 2009

Rick Sharga of RealtyTrac talks with Bloomberg's Deirdre Bolton and Erik Schatzker about how record foreclosure rates are no longer being driven by shoddy lending practices, but by sharply higher rates of unemployment in many parts of the country.

IMAGE Click to play in a new window

A Reuters report indicates that Las Vegas had the highest foreclosure rate at 7.5 percent, one out of every 13 mortgage borrowers receiving a default or auction notice during the first half of the year. This is six times the national average of just over one in a hundred.


Christopher Smith said...

In my opinion the best way to end with the foreclosure crisis is the job creation cause it makes the economy live.

  © Blogger template Newspaper by 2008

Back to TOP