It is all over the local news this morning. Foreclosures in Hennepin county Minnesota are up. So far in April there have been 307 forclosures. Read Hennepin County Forclosures Have Some worried. Forclosures are up nation wide for the first quarter of 2006 by 38% according to RealtyTrac. Nation wide about 1 in every 358 households entered some stage of foreclosure. For Minnesota the number is 1 in every 1,828 households. Read More
Also in the news: gasoline prices are way up yet consumers are purchasing vehicles with 8 cylinder engines at the same rate as they did a year ago. Are these the same folks that are going through foreclosure? Probably not but we don’t really know.
Seems like the foreclosures are doubling every 6 months, for the past year. The short sales are really hot right now also. I’m wondering if there would be more foreclosures if it wasnt for the short sales. I guess will see what happens in the next few years.