Can you see the entire cycle of the mortgage boom and bust in the story of a single home?
Marketplace, the leading business show on public radio has assembled a fantastic review of the crisis by tracing what happened to lot #354 in Southern California. The graphic below summarizes the story, but you can watch the show online here.
DuPage County is still struggling with the middle stages of the collapse as the foreclosure rates continue to increase. Official real estate inventories are hovering at multi-year lows while the hard-to-quantify shadow inventory of distressed and early-stage foreclosures appears to be mounting. The worst is likely still ahead as we work through the damage done by this bubble.
No comments:
Post a Comment