đ¨Foreclosure Deals Surging This Month!
Foreclosure Frenzy Fuels Investor Fortunes
Foreclosures are back in the spotlight, with October 2024 delivering a 20% surge in activity compared to last year.
Nearly 35,000 properties faced foreclosure filings, signaling a storm brewing in the housing market.
And if you think this is just a fluke, think again.
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It's clear this isnât just a regional problemâit's happening everywhere. Investors and buyers might want to pay close attention because these numbers arenât just headlinesâtheyâre shaping opportunities in real time.
And itâs not just homes under stress. Commercial real estate is feeling the squeeze too, with the Prince Building in SoHo hitting default despite being in a prime location.
Meanwhile, mortgage delinquencies are stacking up, and property prices are falling in nearly every major metro area.
Add it all up, and youâve got a market ripe with possibilities for anyone ready to navigate this rocky terrain.
In this edition of the AltReports:
đź Foreclosure Frenzy
đ Realty Recession
đ¸ Mortgage Mess
đ Delinquency Drama
đ Property Plunge
Video of the Week: Florida Home Prices FALLING BACK TO REALITY FAST!
Chart of the Week: Household Debt at New Record
Podcast of the Week: BREAKING: Are We on the Brink of a Reverse Market Crash?
U.S. Foreclosure Activity Increases in October 2024
The U.S. foreclosure machine is cranking back to life, with October 2024 showing a 20% spike from last year.Â
Nearly 35,000 homes got slapped with foreclosure filingsâbecause who doesnât love an auction or a repossession?Â
Experts claim the market will âcorrectâ by mid-2025, but for now, itâs a financial dumpster fire.
Foreclosure Rates for All 50 States in October 2024
Illinois, Delaware, and South Carolina are competing for the title of Foreclosure Capital of 2024!Â
Small-but-mighty Delaware and Rhode Island are punching above their weight with sharp increases.
The big guns like California and Florida are bringing in the foreclosure numbers we all knew they could.
After 2-year extension, Prince Buildingâs $200M loan lands in default
The Prince Building in SoHo just pulled a financial Houdini act and disappeared $52 million of its mortgage.
Turns out, not even prime real estate is safe from high interest rates and bad economics.
The lender wants its money yesterday, foreclosure is on the horizon, and a court-appointed receiver is now calling the shots.
Here Come the HELOCs: Mortgages, Housing Debt & Serious Delinquencies
Homeowners are in debt up to their eyeballs, with HELOCs and mortgage delinquencies climbing faster than inflation at a gas station.
Serious delinquencies are rising too, because why pay your debts when interest rates are this high?
The economyâs a mess, people canât keep up with payments, and homeowners are gambling on HELOCs like theyâre at a Vegas casino.
Prices Drop in 29 of 30 Big Metros
In a shocking turn of events, housing prices are tanking in 29 of the 30 largest U.S. metros.
Even golden children like San Diego and L.A. are feeling the burn.
The only holdout? New York City, where prices managed to inch up just enough to keep its ego intact.