subject: 75% of the metro areas facing huge foreclosures [print this page] This is a serious problem for America, but there is good news. Some of the states, which were the worst hit, are now registering a decline in the foreclosure rate, because of the end of the subprime crisis. The bad news is that while these states are gaining some recovery, the other states are taking harder hits, because of the weak economic situation.
The worst cases of foreclosures due to unemployment can be seen in Salt Lake City. Others, which are hit by unemployment crisis, leading to foreclosure and just behind Salt Lake City, are Chicago, Charleston S.C. and Albuquerque.
As the foreclosure problem spikes up, the major concern that comes in is the problem for the housing industry. Builder's sentiments show that the housing market is in real trouble, because the foreclosed properties are now selling at lower and cheaper rates and this is good news for the prospective homebuyers who are looking for preoccupied homes.
So, if you want to invest in foreclosures, take a tour to ForeclosureDataBank.com and you will find the latest listings of foreclosures for sale.
