Posted on Monday, April 27, 2009
9000 a week. Originally estimated 2 million. Now 5 to 6 million.
Nationally 250,000 new filings in March, 1 in ever 10 homes
Miami Dade has 600 new foreclosure filings each month. 75% of all new cases are foreclosures, takes 300 days – used to be 150.
Original indicator = rate resets. Now also underwater, unemployment, credit crunch, consumer confidence. In commercial, vacancy, GDP. and retail sales.