RealtyTrac tells us that foreclosures fell in January compared to December. Good news? Not so fast…
For several years, January foreclosures have been lower than December, so this is not necessarily an indicator of a reversal in the foreclosure problem in America. Furthermore, January’s foreclosure rate was 15% lower than it was last January, which is simply astounding and not a positive indicator.
Along with that news, Zillow tells us that a little more than 1 of every 5 homes in the United States is currently “under water” (debt is greater than property value leading to negative equity). These types of properties have a high probability of increasing the foreclosure problem in the immediate future.
Still, I believe optimism is in order. Not because of foreclosure rates (which are still horrible) or unemployment statistics (which are abysmal) or government policies (which are utterly laughable)…
…but because of you and other individuals like you. America is successful economically BECAUSE of all of the “little people” out there - just like you and me. Fundamentally, it’s all about your focus - do you have a clear idea of what you want to accomplish financially? Remember - times are tough right now, but they won’t be tough forever. This difficulty might be the biggest opportunity you have ever had.
One of the things that I’m focused on is providing information to my subscribers (if you’re not on my email list yet, please use the space in the right side of this page) to both inform and encourage them. There’s a lot of news that reflects poorly on the state of our economy - but that doesn’t have to be the same thing as “bad news” for you. In fact - it shouldn’t.
It’s a great time to be alive, and a great time to be an American. The future is bright!
Thanks for reading http://realestate.BryanEllis.com - and feel free to leave your comments or other words of encouragement for your fellow investors in the space below.
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