Wednesday, April 18, 2007

Foreclosures Up 47% From Last Year

The housing market continues to slump with year over year foreclosures up 47% to 149,150 homes going into foreclosure in March. The sub prime mortgage crisis is responsible for a large share of these foreclosures as well as the closure of at least 20 sub prime lenders. This crisis has the potential to drive the United States economy into recession.

Read the article here.

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