Saturday, February 25, 2006

Bursting the Housing Bubble: Foreclosures Rise 45%

Bursting the Housing Bubble: Foreclosures Rise 45%
Foreclosures increased 45% from January 2005 to January 2006. Note this simply marks a return to the long-term average.

Of course, if housing prices were to fall to their long-term average (based on the relationship to rents, to income, or any other such metric), we'd be looking at a 20-30% decline in prices.

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