Foreclosure Crisis In Oregon 10 Years Later

Dated: 03/28/2017

Views: 192

The Foreclosure Crisis: 10 Years Later

Our way out of the Foreclosure Crisis

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,


Available Washington County Foreclosures and Bank Owned Properties


“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.

National Foreclosures 2000 to 2016

If this trend continues, the country will be back to 2005 levels by the end of 2017.

Bottom Line

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

Buying Remains Cheaper Than Renting In Portland Metro

Buying Remains Cheaper Than Renting in Portland MetroBuying Remains Cheaper Than Renting in Portland MetroAugust 18th, 2018The latest Rent vs. Buy Report from Trulia shows that homeownership is

Read More

Is Housing Affordable

Is Housing Affordable in the Portland Metro Market?As home prices continue to rise due to a lack of inventory, many people are becoming more concerned about housing affordability. Taking a look at

Read More

New Listing 174 NE Chancellor Ct Hillsboro OR 97124

Coming Soon Listing in Hillsboro - MLS # 183986562 Masters, both with beautiful bathroom suites. Set-up for multi-generational. New flooring throughout, new paint. This is a gorgeous move-in

Read More

Portland Oregon Residential Real Estate Review June 2018

June Residential Highlights The Portland metro area saw some cooler activity this June, but closed sales saw a gain over last month. At 2,946, closed sales slipped 7.6% below the 3,187 closings

Read More