Posted by 101livescan on 11/13/08 9:48am
Msg #269592

Foreclosures up 25% from last year

Looks like we're in for another wild end of the year auction season.

http://news.yahoo.com/s/ap/20081113/ap_on_bi_ge/foreclosure_rates

Especially bad in central valley of CA and in Florida.

Reply by DebbieT on 11/13/08 10:00am
Msg #269593

My area is 2nd on the list. Cape Coral just exploded with home building. If you were away from this area for 7 or 8 years and came back today you would not recognize it. I am always optimistic though. They said we were the fastest growing area in the US. If we were the fastest growing area for the US then there was a reason people wanted to live here. Hopefully that will not change when we start to recover from all this. Its all just really sad.

Reply by 101livescan on 11/13/08 10:12am
Msg #269594

Sad indeed. My parents declared bankruptcy twice in my growing years. BUT, they never lost their home to foreclosure. This is a tough one, especially when I drive up and see all the kids' toys, bikes, skateboards, basketball hoops in the yard, and I know how difficult it must be for those parents and their families.

I'm praying for a fast turnaround in our housing market, time will tell.

Reply by jba/fl on 11/13/08 12:58pm
Msg #269602

Debbie: I think Fl will lose some of the younger crowd, but increase the retiring crowd. There are many to still come here, and we have great financial incentives statewide. We will remain a retirement state along with others in the Sunbelt. It will take a bit of adjustment, but I have lived here almost my entire life, watching many cycles that our early founding fathers set in motion, adjusting over the years to protect residents from some of these fluxes.

Think of all those Republicans looking to go to a great retirement after serving their country...these people have $$ and will come and spend it. Losing some of the families will actually benefit us in some ways. The tourist base will change a bit more too - and that's not bad for the economy either. This is all temporary...