Foreclosure-Ridden Dallas Sees Home Prices Dip | ForeclosureListings.com
The US economy is still steeped in Recession. Unemployment is at its peak. As people lose jobs, even those with very high credit scores are faltering on mortgage payments. Hence, foreclosures have become common.
A problem plaguing the economy has been that of homes with negative equity. The value of these homes have dipped so much that lenders usually owe more on them than they are actually worth. In Dallas, a similar thing has happened. Prices are now in the red. In fact, home prices have come down by 0.4 % when compared to previous year. This was revealed by Standard & Poor’s/Case-Shiller Home Price Index. According to the same report, prices across the nation were at least 3.2 % higher. S&P’s David Blitzer quoted in the report that anyone who feels that the market will go back to the times of ’05-’06, will be disappointed. It is more than enough if prices become stable.
Foreclosure-Ridden Dallas Sees Home Prices Dip | ForeclosureListings.com.
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