Which came first, the chicken or the egg?

Are soaring bankruptcy rates a result of the housing market mess,
or is the housing market mess causing the soaring bankruptcies?

There have been 1.18 million personal bankruptcy filings through Oct 2009, and the American Bankruptcy Institute is predicting over 1.4 million new bankruptcy filings by year end.  Yikes!  Here is a chart from CalculatedRisk.com that shows bankruptcy filings by state.  Idaho is 21st on the list. 

Bankruptcy Filings by State

 It's a vicious cycle with no end in site.  

Bankruptcies ~ Unemployment ~ Housing Crises ~ Home Value Decline

One feeds the other and round and round we go...  Plan your housing strategy accordingly. 

Knowledge is power, give me a call to discuss your best course of action based on YOUR circumstances! 

Janna SignJanna Rankin Scharf  provides a superior level of real estate services to home buyers and sellers in Coeur d'Alene and Kootenai County, Idaho. Visit Janna.ServingNorthIdaho.com to search for homes in the Coeur d'Alene MLS for anywhere in spectacular North Idaho.

No matter how grand or modest your real estate dreams may be, you can turn to me in confidence.  Give me a call today and let me know what I can do to be of service to you!

Janna Rankin Scharf AB, GRI, CSP, CNS, CLHMS  208.651.9700

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2 Comments on Bankruptcy Filings Up, and Expected to Continue to Rise

NOV
29
2009
614,965 Points Outside Blog

It is so distressing to hear that Bankruptcy Filings are up. They bring so much heartbreak to those involved.

 

 

Betty
11:10am • #1

Not only are they up, but it is far more difficult to file for BK now with the new regulations.  The meaning of that is, these bankruptcies are far more severe . . . and there are a lot of people that are effectively bankrupt, but can't utilize the bankruptciy system.
11:17am • #2


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Janna Rankin Scharf

Coeur d'Alene, ID

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Keller Williams Realty Coeur d'Alene

Address: 1450 Northwest Blvd. Ste 301, Coeur d'Alene, ID, 83814

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