Here’s hoping a plan comes soon: foreclosure filings leapt 71% year-over-year in the third quarter, just another sign that the mortgage crisis continues at full strength.
By year’s end, RealtyTrac expects that more than one million bank-owned properties will have piled up on the market and represent a full one-third of all properties for sale in the United States, reports Alan Zibel for the Associated Press.
iShares FTSE NAREIT Real Estate 50 (FTY) is down 37.2% year-to-date.