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millions more foreclosures: Millions More Foreclosures Coming - 09/11/09 07:57 PM
If the economy is improving, do we really have millions more foreclosures coming? According to the U.S. Treasury, the answer is yes. In written testimony to Congress, Assistant Secretary for Financial Institutions, Michael Barr said that, regardless of the success of mortgage modification efforts, we should still expect millions more foreclosures.
 
Mr. Barr’s testimony is certainly not welcome news for those anticipating a significant recovery in the housing market. In fact, it is an indication that significant recovery is still years away.
 
And there are other factors that confirm the fragile state of both the economy and the housing … (178 comments)

 

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