It is good news that foreclosures are trending down. A lot of damage and hardship was created with this process. Perhaps it is one of the reaosns the rental market is very hot , meaning inventory is low and rental prices are hingh.Much has been written about the cause and impact the real estate melt down. It will be a while untill it all goes through the system but it is happening. It takes a long time to right a ship that has gone so far off course.
"While 32 straight months of a year-over-year decline in the foreclosure rate is cause for celebration, the total number of homes still in the foreclosure process remains almost four times as high as the average in the early 2000s," says Mark Fleming, chief economist for CoreLogic. "Additionally, there is concern over whether or not we can maintain this pace of improvement as the foreclosure inventory becomes more concentrated in judicial states with lengthier, more complex processes and timelines."