Depending on who you listen to, America is either recovering from the housing crisis or sliding deeper into trouble. it is important to understand how we got here, and what it will take to have an honest and earnest recovery in the housing market.
A large percentage of foreclosed properties are not on the market.
Over 4 million properties are delinquent or on the road to foreclosure. 9.5 million homes are currently at risk of default.
Today foreclosures are processed on average in 674 days or about three times more than they were in 2007, making the process for recovery take even longer.
Florida has been particularly hard hit with almost half of homeowner mortgages underwater.
The days of buying a home within your means are going to return, even if they are force-fed.
A mortgage is a debt, and contrary to what you may have been told in the past, all debt will be paid at some point.
One of the remedies that Americans are going to have to swallow at some point, is that not everyone is qualified to own a home.
America will recover from this crisis, however the recovery is not in the immediate future.
Take a look at the infographic we have provided for more information.
We found this information to be shocking, yet not well publicized when radio and TV pundits are talking about the housing crisis in America.
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