Don’t Tell Me: More Troubles Ahead for the Housing Market?

Let’s pause and reflect for a moment. What was the main issue that drove U.S. economy into an economic downturn in 2008 (that is still taking its toll)? It was the collapse of the housing market. It crippled the U.S. banking system and brought a Great Recession into the U.S. economy that will be remembered for a long time to come. Since then, the housing market in the U.S. economy has improved in small geographic pockets. But now, data are increasingly coming out suggesting more trouble ahead for the U.S. housing market. According to RealtyTrac, foreclosures in the U.S. economy actually increased three percent in October compared to the previous month. The company also reported that one in every 706 houses in the U.S. economy was in the foreclosure filing process (Source: RealtyTrac, November 13, 2012.) The Federal Housing Administration (FHA), the agency which insures lenders against ...