No relief in sight – housing woes

Read two articles this week on about the housing market.

First one was about foreclosed properties, which are unoccupied, that develop mold. So not only is there an issue with getting a foreclosed home sold, on top of that, money has to be spent to abate the mold.

Second article noted the number of foreclosures are down this time of year versus last year. That sounds good but really isn’t. The number of foreclosures dropped because of the robo-signing
controversy. Foreclosures are expected to rise the 2nd half of year. This backlog simply delays clearing these homes off the market. One expert opines the backlog of homes won’t clear the market til 2015.

So the housing woes will be with us for some time. 😦


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