4 Reasons to Buy a Home This Fall in Oregon!Here are four great reasons to consider buying a home today, instead of waiting.1. Prices Will Continue to RiseCoreLogic’s latest Home Price
Foreclosure Crisis In Oregon 10 Years Later
CoreLogic recently released a report entitled, United States Residential Foreclosure Crisis: 10 Years Later, in which they examined the years leading up to the crisis all the way through to present day.
With a peak in 2010 when nearly 1.2 million homes were foreclosed on, over 7.7 million families lost their homes throughout the entire foreclosure crisis.
Dr. Frank Nothaft, Chief Economist for CoreLogic, had this to say,
“The country experienced a wild ride in the mortgage market between 2008 and 2012, with the foreclosure peak occurring in 2010. As we look back over 10 years of the foreclosure crisis, we cannot ignore the connection between jobs and homeownership. A healthy economy is driven by jobs coupled with consumer confidence that usually leads to homeownership.”
Since the peak, foreclosures have been steadily on the decline by nearly 100,000 per year all the way through the end of 2016, as seen in the chart below.
If this trend continues, the country will be back to 2005 levels by the end of 2017.
As the economy continues to improve, and employment numbers increase, the number of completed foreclosures should continue to decrease. However there are foreclosures and fixers available.
Latest Blog Posts
Homeowner’s Net Worth Is Still Greater Than a Renter’sEvery three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all
Do Your Future Plans Include a Move? What's Stopping You from Listing Now?Are you an empty-nester? Do you want to retire where you are, or does a vacation destination sound more your style? Are you