1 in 33 Homeowners Projected To Be In Foreclosure Within The Next Two Years
2008/04/17/2332 by farkingaRTFA: http://www.pewcenteronthestates.org/news_room_deta…
One in 33 homeowners is projected to be in foreclosure primarily over the next two years, as a result of subprime loans made in 2005 and 2006, according to a new report released today by The Pew Charitable Trusts. In some states, the outlook is especially grim; for instance, nearly one in 11 homeowners in Nevada is projected to be in foreclosure and one in 18 Arizona homeowners may face the same circumstance over the next two years. Homeowners being foreclosed upon may not be the only homeowners affected, according to data cited in the report. An additional 40 million neighboring homeowners may see their property values and their municipalities’ tax bases drop by as much as $356 billion, largely over the next two years.
Compassionate Conservativism will create real wealth by putting every American family in a house.
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