“Article Says Foreclosures at the Lowest Monthly Total in Eight Years”

I can't help but think of what Dave Ramsey says about debt...the borrower is slave to the lender. Can that hold true to the U.S. as we owe so much money to China?I suppose that is a question for a different blog.

It will be interesting to see if our strong real etate year can survive a 4th quarter economic slump ?

Good morning Joe, it's so sad to see so many college graduates either without jobs, living with their parents or having low paying jobs. Sad but most of my buyers are not millenials.

We still have some down payment assistance programs.  I  see many young folks with a tremendous amount of college loan debt.  The interest rates on these loans are ridiculous. But this debt factored in to the buying equation takes a toll on what they can afford to buy.

Joe, thinking the foreclosure rate differs substantially depending on where you are looking.  We have had a very low foreclosure rate, but that could always change.

Joe, I don't see any change until Q4 2016. Politics will keep this economy in the same state. 

So Joe Petrowsky Do you think there just might be a governmental conspiracy here? The big money has moved into residential income property. They need more renters.

Bill Roberts

Joe-Economic growth has traditionally been great for home ownership rising. We have little growth and the drags on the economy you mentioned, it looks like a long haul to improvement in this area.

I think that it's the accumulative effect of all these things that keep people from buying, Joe Petrowsky.  Not just one specific thing.  So many seem to think they know the answer of whether they can buy before they even try.  They don't even ask specific questions, they're so sure of it.  THAT mindset .. THAT depression (of sorts) is hard to overcome with marketing.

What I've seen is when these clients eventually do ask questions, they are often very surprised at the positive results.  Question is .. how do we as individual professionals get that message heard over the loud negative one the media shares continually??

Gene

Has Ocwen been delisted yet?  

Far as I am concerned foreclosures should be zero or very close to it.

MAKE IT A GREAT DAY.

Joe

Your post has received a big response  . . . . with great comments.

As with most conditions  . . . . we have to look the leadership and their vision for the the country.

Dodd-Frank has been a nightmare . . . . and a big factor in creating the real estate meltdown . . . . and now creating a barrier to home ownership.

There's a lack of focus on jobs . . . . and a over focus on regulations that hurts the job market . . . . and in not helping to create home ownership.

Good luck and success.

Lou Ludwig

Marriages are being deferred. All of the mothers need to organize to match up their single kids to get married and purchase homes.

There are still too many foreclosures on the market down here in Florida.

Joe you make some very good points in this blog, but none of that matters to Washington as long as they can say the foreclosure figures are down.  Why confuse things with the fact :) :) :)

Come on Joe we are NOT going to talk about the FACTS! Lets just focus on one isolated thing that LOOKS like the feds can manage to do anything right!

Yeah that will help us all .... oops wait we have yet another debt ceiling coming up soon wonder what happens there????

Please vote its your chance to focus on progress or regress

In our state the term impeachment would be a start

Interesting points Joe, it shows our changing world. I remember as a kid anyone could have a home. I had friends who had parents with an at home mother and the Dad was a blue color worker and they somehow made it. Things are so different.

I think we still have a lot of people that lost their homes that are frightened to buy again and still can't buy a home again, because they probably still have the foreclosure, or short sale, to deal with on their credit report. 

I hope things will improve. There are many millennials living at home with their parents and seniors are living with their children. 

Hi Joe - in our market -- high prices, low inventory and the lack of buying power at the entry level.