Florida remains caught in the foreclosure crisis with one in every 32 Florida households having received a notice of default, auction or repossession in 2012, more than double the average U.S. rate of one in 72, RealtyTrac, the Irvine, California-based data seller said today in a report.
Home repossessions increased by 16,276 during the year to 84,456, the biggest gain nationwide. Adding to the state’s woes is a backlog of foreclosures caused by a required court review of each case.
From Bloomberg:
Florida, one of four so-called sand states that had the biggest booms before crashing, is the last of the group including California, Nevada and Arizona to rebound. While the S&P/Case-Shiller home-price index for 20 U.S. cities surged 4.3 percent in October from a year earlier, the Miami and Tampa metropolitan areas in Florida were laggards among the component members “and have not recovered much so far,” according to index chairman David Blitzer.
Read More Here.
[…] Florida Remains in Grip of Foreclosure Crisis | | West Orlando News … […]