• 657 days Will The ECB Continue To Hike Rates?
  • 658 days Forbes: Aramco Remains Largest Company In The Middle East
  • 659 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,059 days Could Crypto Overtake Traditional Investment?
  • 1,064 days Americans Still Quitting Jobs At Record Pace
  • 1,066 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,069 days Is The Dollar Too Strong?
  • 1,069 days Big Tech Disappoints Investors on Earnings Calls
  • 1,070 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,072 days China Is Quietly Trying To Distance Itself From Russia
  • 1,072 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,076 days Crypto Investors Won Big In 2021
  • 1,076 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,077 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,079 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,080 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,083 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,084 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,084 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,086 days Are NFTs About To Take Over Gaming?
The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

  1. Home
  2. Markets
  3. Other

Foreclosures on my Mind

According to RealtyTrac Inc. the Dallas-Fort Worth area has the dubious distinction of leading the nation in foreclosures with one foreclosure for every 319 households. This is more than 5.5 times the national average.

Following are the top five foreclosure states according to this article :

1. Texas 9,672
2. Florida 9,506
3. New York 3,024
4. Arizona 2,386
5. Pennsylvania 1,790

According to the West Virginia Gazette, West Virginia foreclosures are at a 40 year high. Here is an interesting snip from the article: A West Virginia bill passed in the Legislature this year requires high schools to start teaching students the basics of personal finance, initiating them into the mundane world of balancing checkbooks, paying off loans and sweating out investments. Just seven other states have such a requirement.

These courses have long been offered as high school electives in West Virginia, but now they'll be covered in the core curriculum, mandatory for graduation starting with the class of 2008.

That's not a semester too soon, if you ask Treasurer John Perdue, a longtime proponent of such legislation. "Too many kids are graduating from high school who don't know how to balance a checkbook," Perdue said. "And sometimes the credit card companies are getting to them while they're still in high school."

Meanwhile check out the volume of transactions in three California counties: San Mateo -18.7%, Santa Clara -11.7%, Santa Cruz -23.8%. Will volume lead price down? I think so.

According to foreclosures.com Speculators are cashing out of Las Vegas Housing Market. "Investors represented over 25% of home sales in 2004," said Foreclosures.com president Alexis McGee. "Foreclosures averaged just 607 per month for the first quarter of 2005. Now speculators have cut down on buying and are cashing out." Falling prices and rising foreclosures will follow in this writer's opinion.

Foreclosures.com is also reporting that although California Foreclosure Activity Remains Low, Pressure is Mounting.

This quote sums up my feelings on the precarious situation in California precisely. Alexis McGee, president of foreclosures.com said "We can't say when defaults will increase. We just see it coming."

Back to homepage

Leave a comment

Leave a comment