After Foreclosure and Eviction, Where's Everyone Living?
May 30th, 2009 | by admin |I see this epidemic of people going into foreclosure.
In fact I heard a news report recently that said prime loans were foreclosing faster than sub prime now.
I live in an apartment now. (House was foreclosed after a divorce)
But I don't see or hear of a big boom in rentals either.
Where are all these families that loose their houses and sometimes their job doing for living arrangements?
What you don't hear is that a lot of the properties that are being foreclosed on are homes that people were buying as an investment that they thought they could turn over quickly and sell for a really good profit. But the housing market bubble burst before they could. So it wasn't a home that they actually lived in. And a lot of the ones who have actually been evicted have turned to friends and relatives for help.
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3 Responses to “After Foreclosure and Eviction, Where's Everyone Living?”
By Hope H on May 30, 2009 | Reply
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References :
By tarheel_9999 on May 30, 2009 | Reply
I think a lot of the people that were foreclosed on are living with relatives.
References :
By Misty M on May 30, 2009 | Reply
What you don't hear is that a lot of the properties that are being foreclosed on are homes that people were buying as an investment that they thought they could turn over quickly and sell for a really good profit. But the housing market bubble burst before they could. So it wasn't a home that they actually lived in. And a lot of the ones who have actually been evicted have turned to friends and relatives for help.
References :