Repossession Activity Is Still Lower than the Norm
That’s because they’re just contrasting the most current numbers to a time where repossessions were at historical lows. We’re not also back at the levels we would certainly see in even more normal years, like 2019. Even though the real estate market is experiencing an anticipated rise in foreclosures, it’s nowhere near the situation degrees seen when the housing bubble burst.
The rise the media is calling attention to is misdirecting. That’s because they’re only contrasting the most recent numbers to a time where repossessions were at historical lows. Take a look at the chart below. We’re not also back at the degrees we ‘d see in more normal years, like 2019. Also though the housing market is experiencing an anticipated rise in foreclosures, it’s no place near the dilemma levels seen when the real estate bubble ruptured.
