believe that the disconnect, between "final" foreclosures and how many of U.S. are seriously delinquent in paying our home loans, are all YOUR fault.
--------------
What Jim@CR and Tom Lawyer have tried to do for U.S. is make sense of it all.
What they show U.S. is that by the end of 2008 foreclosures about 60% of the delinquent loans at the beginning of the year were completed.
However, at the end of 2009 only 42.2% of the prior years delinquent loans were completed.
AND, at the end of 2010 only 33.6% of the prior years delinquent loans were completed.
If you look at the color graph you MIGHT think that we have completed foreclosure on about half of the prior years delinquent RE loans. And, that the delinquent loans have remained constant.
However, IF you look at the "numbers", that might not be the case.
The number of completed foreclosures have increased by about 200,000 per year.
The number of delinquencies, however, increased by 6 times that in 2009
and by 7 times that in 2010.
So, not only do we not know how many actually HAVE lost their homes...
we do NOT know how may delinquent owner still face foreclosure.
What we DO know is that those falling behind are much larger than those loosing their homes.
And, that does not even begin to tell U.S. how many homes the banksters are actually holding back off the RE markets.
-------------
| Year | Completed Foreclosure |
|---|---|
| 2007 | 514,000 |
| 2008 | 914,000 |
| 2009 | 949,000 |
| 2010 | 1,070,000 |
------------
| Year | Completed Foreclosure Sales | Short Sales | Total |
|---|---|---|---|
| 2008 | 914,000 | 95,000 | 1,009,000 |
| 2009 | 949,000 | 263,000 | 1,212,000 |
| 2010 | 1,070,000 | 375,000 | 1,445,000 |
| Year | Completed Foreclosure Sales plus Short Sales | Loans in Foreclosure/90+ Delinquent at end of previous year |
|---|---|---|
| 2008 | 1,009,000 | 1,664,760 |
| 2009 | 1,212,000 | 2,859,959 |
| 2010 | 1,445,000 | 4,296,018 |
How Many Folks Have “Lost Their Homes” to Foreclosure/Short Sales/DILs?
http://www.calculatedriskblog.com/2011/02/lawler-how-many-folks-have-lost-their.html
=========
No comments:
Post a Comment