Skip to:

Text size [+][-]  Sunday March 14 2010GLOBAL EDITION

Considered view
14 Aug 2008 21:39

Inadvertent landlords

Context News

US foreclosures rose 55% in July over the year-earlier period, and were 8% higher than in June, according to RealtyTrac, a firm that tracks the real estate market. Bank repossessions rose 184% year-over-year. The firm has over 750,000 properties in its bank-owned real estate database, representing about 17% of all homes for sale.

Fannie Mae had 54,173 single-family foreclosed properties in its portfolio as of June 30, up from 27,144 in the year-earlier period.

Freddie Mac had 22,029 properties in its inventory at the end of June, up from 10,260 a year earlier.


The number of houses in receivership is rising fast, and those held by Fannie and Freddie have doubled in the past year - meaning even better-quality owners are defaulting. That’s a bad omen for the market and for the companies, which must pay a bundle to maintain the properties.

Sign up to read the rest of this subscriber-only content, or if you are already a member please sign in here.

Forgotten your password? Get a password reminder.


This Views Flash will shortly be followed by a Considered View


More stories by:  Dwight Cass






Share