Forbes has published an article, “The Serious Disconnect Between A Hot Residential Real Estate Market And The Coming Tsunami Of Foreclosures,” which discusses the increase of foreclosures due to COVID-19. The article begins as follows:
Various reports show that the market for previously-owned homes climbed nearly 10% in September, the fourth straight monthly increase. It is not just sale volumes that are high, but the price of homes is showing double-digit gains. If you just look at volume and prices, the U.S. residential real estate market looks as rosy as every, spurred on by very low interest rates from the same Federal Reserve which once-upon-a-time was tasked with preventing bubbles above all else but during the last three decades has arguably been the chief cause of them. That’s the sunny side of the street.
Click here to see full article: “The Serious Disconnect Between A Hot Residential Real Estate Market And The Coming Tsunami Of Foreclosures.”
Posted by Bella Hoang, Managing Associate Editor, Wealth Strategies Journal.