"Rising Home Foreclosures: Impact on U.S. States"
TL;DR Summary
Home foreclosures rose in February, with 32,938 properties having foreclosure filings, marking an 8% increase from the prior year. While foreclosure completions fell in 28 states, they surged in South Carolina, Missouri, Pennsylvania, Texas, and Indiana. Housing affordability is at its worst due to rising home prices and mortgage rates, with the typical salary required for homeownership increasing by 61% in four years. The Federal Reserve's interest-rate hike and lack of available homes for sale are contributing to the affordability crisis.
Topics:business#home-foreclosures#housing-affordability#housing-market#mortgage-rates#real-estate#real-estate-data
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