The problem is that the mid-2000s saw the spectacular ongoing explosion of the housing market like the American public has not seen before or since. Doesn't that say something to you? Doesn't it say, 'Perhaps there are more aspects to this situation than were present with other recessions and dips in the market!'?
With this combination of factors in place, it is obvious that the numbers of foreclosures can only rise over this current year. Even if some of the government programs are continued, it is unlikely that they’ll be proactive enough to suppress the sheer volume of homes that are poised to enter the market as bank owned properties this year.
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