The number of Florida foreclosures has nearly doubled since last year. The United States foreclosure filings show that Florida has one of the highest ratings in the country. This recent increase in foreclosures is mainly due to the fact that many homeowners bought at the end of the real-estate boom, and now are stuck with homes they can't sell. The credit standards have changed significantly over the past year and it’s much harder to secure subprime loans. Although foreclosures are at an all time high the economy still remains stronge with an advised 4.7 GDP, stronger job growth than predicted with over 180,000 new jobs in November, low unemployment rates and over 1 million new households will be needed annually according to the Census Bureau. Miami in particular will remain an International destination and is considered by some as the “American Riviera”. It is also a great time to invest in a Miami real estate property!
Monday, December 17, 2007
Florida Foreclosures-One of the Highest in the Nation
The number of Florida foreclosures has nearly doubled since last year. The United States foreclosure filings show that Florida has one of the highest ratings in the country. This recent increase in foreclosures is mainly due to the fact that many homeowners bought at the end of the real-estate boom, and now are stuck with homes they can't sell. The credit standards have changed significantly over the past year and it’s much harder to secure subprime loans. Although foreclosures are at an all time high the economy still remains stronge with an advised 4.7 GDP, stronger job growth than predicted with over 180,000 new jobs in November, low unemployment rates and over 1 million new households will be needed annually according to the Census Bureau. Miami in particular will remain an International destination and is considered by some as the “American Riviera”. It is also a great time to invest in a Miami real estate property!
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