Foreclosure filings

Our homeowner's insurance renewal was double last year. Our agent said he has customers in Dade and Broward that went from $800 a year in 2021 to $4000 in 2023.

Meanwhile, our governor is touring the world in a failed presidential bid doing nothing about it.

 

Nope.



Delinquency Rate on Single-Family Residential Mortgages, Booked in Domestic Offices, All Commercial Banks

 

Since Dodd-Frank, residential underwriting standards are much harder to qualify so I don't necessarily agree about 'resources'.
What is impossible to account for is when folks lose their jobs, die, go through a life-changing divorce or face extreme inflation.
What high inflation and high interest rates are doing now to the economy is raising the cost of everything and ruining livelihoods.

 

Absurd headline for chicken littles.
Foreclosures are no where near 2008. My wife did foreclosure workouts at the time and laughed when she read this article.

 

To be fair, I don’t think anyone was claiming it’s 2008 again, only that they were rising.

 

The OP headline/first sentence implies otherwise.
Edit; just to be clear I actually read the article and to say foreclosures are surging in the context of 2008 foreclosures is absurd. Just political scare tactics. That was my point. Feel free to bring the bacon tho.

 

The biggest issue facing homeowners in South Florida is the cost of securing insurance. And it is the biggest issue by far.

 

I watch him and some other real estate YouTubers. Gets formulaic and repetitive, but I do think the overall message is correct and the videos are entertaining.

 

Love this guy. Started watching him (car dealer) a few months ago and he knows his chit. There are so many repos out there that there is a huge backlog to be repo-ed they haven't gotten to yet. Some firms are giving extra cash to towing companies to get special treatment. It's a scary thing for the economy that so many people did with cars what they had done with houses 15 years ago, get way too much and never be able to pay fot it.
Ford f150's were being bought for 100k in some places not too long ago, way over MRSP.