The commercial real estate market has struggled to stabilize after the COVID-19 pandemic, as seen by the 117% year-on-year rise in foreclosure rates. The office sector, which accounts for over 40% of the value of distressed properties in the United States, is facing the greatest headwinds due to cratering demand for office space amidst an … Read more
When foreclosure rates decreased in October and November 2023, ATTOM CEO Rob Barber warned that it was part of the “cyclical nature of the market” rather than a long-term trend. Unfortunately, Barber has been proven right this year as foreclosures rise throughout the United States. In February 2024, lenders started the foreclosure process on 22,757 … Read more
In 2020, the foreclosure rate went down to .16%. The following year saw an additional decrease as the rate went to a record low of .11%. Unfortunately, the end of the COVID mortgage payment moratoriums, coupled with inflation and an unstable economy, have contributed to a foreclosure rise that appears to have no end in … Read more
Foreclosures are becoming an increasingly commonplace throughout the United States as homeowners struggle in an uncertain economic environment beset with inflation, rising property taxes, a restart in student loan payments, and other financial issues. ATTOM’s February 2024 report shows that foreclosure starts are up 11% year-over-year while the total number of foreclosure filings has seen … Read more
ATTOM’s recent report on commercial foreclosures in the United States notes that there are 635 foreclosure filings as of January 2024. This is up 97% from January 2023, and 17% higher than December 2023; however, ATTOM CEO Rob Barber doesn’t see this as being a bad thing. Barber notes the current meteoric rise in the … Read more
American consumers are tapped out. Credit card debt is over 30% higher than it was just two years ago. Balances on non-housing loans have hit a whopping $4.8 trillion, and the rate of newly serious delinquent credit card debt has risen by about 90% since Q1 2022. The resumption of student loans in October 2023 … Read more
Just three months ago, ATTOM CEO Rob Barber hailed a rebound in the housing market as foreclosure filings fell by 9% from June 2023 to July 2023. Unfortunately, there was trouble brewing on the horizon, and it hit the market hard. ATTOM’s most recent foreclosure data for Q3 2023 shows that there are 124,539 properties … Read more
Many experts watching the residential real estate market likely breathed a sigh of relief when foreclosure filings in July 2023 were 9% lower than they were a month ago. In fact, ATTOM CEO Rob Barber hailed the news as a “sign of a rebounding housing market”. He noted that the recent rise in home prices is putting … Read more
Statistics from July 2023 show that foreclosure filings are down 9% from a month ago. What’s more, the number of new homes being foreclosed on is 12% lower than it was in June 2022. ATTOM CEO Rob Barber has hailed the significant decline as a sign of a rebounding housing market, pointing out that homeowners … Read more
The commercial real estate market has gotten a lot of press lately and for all the wrong reasons. Brookfield, one of the world’s largest public real estate companies, announced earlier this year that it would default on over $161 million worth of office building mortgages. Pacific Investment Co. subsequently announced that it would default on … Read more