Category Archives: Foreclosures, Shadow Inventory

Debt De-Leveraging, Housing and the Recovery

Most houses are bought with mortgages and interest rates and the availability of mortgage money are key issues for the hoped-for housing recovery.  But the links among debts, housing and the economy run much deeper.  Debt levels and especially a surge in household debt, such as experienced with mortgages beginning in 2000, played a big […]

First and second mortgage default rates fall again in February 2012

On March 20th, S&P Indices and Experian released February data for the S&P/Experian Consumer Credit Default Indices, which measure consumer credit default rates. The data showed a decline in the composite index, led by a six basis point drop in first mortgage default rates. Second mortgage and bank card default rates fell by even more […]

Fourth-Quarter 2011 Shadow Inventory Update: Overall Declines Mask Big Regional Differences

Over the past year, two divergent pictures have developed as foreclosure timelines continued to widen in some states, while other states have been able to steadily work on clearing the shadow inventory. The large difference in liquidation rates between states grew during the fourth quarter of 2011. The increasing timelines are primarily due to extreme […]

Foreclosures Continue to Decline

RealtyTrac reports that foreclosure activity across the US in December and the full year 2011 dropped sharply. Foreclosure filings in 2011 totaled 2.7 million, down 34% from 2010 and 33% below 2009 and 19% below 2008.  Overall 1.45% of US homes experienced a foreclosure filing, about one in every 69 houses. Comparable percentages for earlier […]

Foreclosures in 2011: RealtyTrac Reports Full Year Data

Nationally in 2011 1.9 million homes were in some stage of the foreclosure process representing 1.45% of the homes in the US — the lowest percentage in four years.  The good news is that this is down by about a third from 2010.  In 2010 2.23% of homes were in foreclosure compared to 2.21% in 2009 […]

Second consecutive increase in first mortgage default rates

On November 15, S&P Indices and Experian released October data for the S&P/Experian Consumer Credit Default Indices, which measure changes in consumer credit defaults. The data showed an increase in the composite index, led by an increase in first mortgage default rates. Auto loan, second mortgages and especially bank cards all saw pretty significant drops […]

From the Chat: Questions about revisions, tiered price indices and home sales.

As we have already stated, the July 26 chat session ended with some questions that we didn’t have time to answer or where we needed to check the data before we could answer them completely.  Over the next few days we will provide answers to as many of these as possible. Question:  “Can you please […]

Prices and Foreclosures

It’s no surprise that falling prices are correlated with high foreclosure rates across the 20 cities in the S&P/Case-Shiller Home Price Indices.  Using data from RealtyTrac for the 20 cities, we  calculated a foreclosure rate over the period since home prices peaked in June 2006.  The data covers notices of default, auctions and REO (real estate […]

The Backlog is the Problem

Last  Sunday the New York Times reported that it may take 62 years to clear out all the foreclosures in New York State.  New York is one of the 23 states where the courts play a role in resolving defaults and foreclosures. In the other 27 states the process is much faster but it could […]

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