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Foreclosure Listings Growing, Stocks Rising



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By : John Cutts    99 or more times read
Looking at how the stock market is performing of late, one would probably think the US economy is finally getting back on its feet. But it is still important to recognize other factors, such as the growing foreclosure listings, in order to fully assess the situation.

The federal government’s decision to pump taxpayer’s money and jumpstart the financial industry is certainly working. For sure, it has lifted Wall Street, especially if you think about how traders are speculating about money that is virtually free. The problems in the Middles East are also pushing money to the US equities market. All these news are certainly welcomed by the few Americans who owns plenty of stocks.

But if you are a mere employee who only owns 401k stocks, then there is nothing to be really joyous about. The current housing market conditions will also make you think if the economy is truly recovering. Everywhere you look, there are repossessed homes and commercial foreclosure homes for sale as well. Foreclosure listings are growing on a daily basis and this could spell bad for home prices.

Before, only the cities hit hardest by the foreclosure mess were suffering from declining prices, but now even places like Portland and Seattle are experiencing fallout. Bank owned homes are blighting more neighborhoods.

And the situation will eventually get worse as more homeowners are finding themselves with underwater mortgages or owes more in mortgage debt than what their home is valued at. Many of these homeowners are tempted to simply walk away. And if this happens, home prices will go down further as more homes enter the foreclosure market.

Considering all these, the improved performance of the stock market should not lull you into a false sense of security. After all, the housing market is still in deep trouble and you only need to look at the ballooning foreclosure listings to know this is a fact.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.

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