News
Is The Housing Crisis Finally Over?
The US housing market is finally getting back to pre-recession foreclosure rates after years of upheaval.
There were 24,000 fewer properties in foreclosure in March, leading to a grand total of 631,000—that’s the least since before the 2008 crisis, Bloomberg reports. The number of foreclosures peaked in 2010, when banks took control of 1.2 million properties.
And there’s more good news—home loan delinquencies also dropped by over 4% in March, hitting the lowest levels since March 2007.
But don’t let that go to your head, experts insist the market not get ahead of itself, saying we still have a ways to go before foreclosure metrics hit the more normal levels experienced in the '90s. [Bloomberg]
