Foreclosures in 2022 - Time To Panic?

In todays show we look at the real Foreclosures in 2022 data and
just how worried you should be!   The Current Headlines

​We are all busy. Which means that we spend a great deal of time
skimming the news rather than reading it. Of course, that means
we will frequenly get left with the wrong impression when it
comes to what is actually going on.


Herea are the headlines from a few popular news sources:


U.S. FORECLOSURE ACTIVITY IN JANUARY 2022 HIGHEST SINCE
BEGINNING OF COVID-19 PANDEMIC



U.S. foreclosures are the highest since pandemic's start




Foreclosures are on the rise. Here's what that says about the
housing market


The Actual Numbers

While many of those headlines are accurate, they do not paint a
real picture of where we are with foreclosures. For the past two
years, we have seem the lowest foreclosure rates for at least the
last 17 years. The folks over at ATTOM -
considered the very best source for this kind of data, included
this image in a recent post.


So when these news outlets compare the current rate of
foreclosure to last month or last year, remember that the last
two years have had ridiculously low foreclosure rates. Even if
foreclosures in 2022 double - we are below .5%. We would have to
see foreclosure rates TRIPLE just to hit 2019 levels, which were
already the lowest in at least 14 years.


So check out todays show as we explore this data and try to
calibrate what we should be thinking about.