Foreclosure remains a major concern in Queens, with the number foreclosed houses and handyman special homes for sale remaining high. Small businesses are said to be key to recovery.
Government foreclosed houses and bank foreclosures account for a high percentage of sales in California. This has led to a drop in housing prices in the area.
Foreclosed homes listings remain high in most U.S. areas, but the home construction market was able to hold its own. House building activities rose in December.
The number of government foreclosed houses has been rising because of the rising percentage of home loans guaranteed by government entities. During the first three quarters of 2009, Fannie Mae acquired more than 98,000 units through foreclosure.
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