U.S. home foreclosures soared by 121% in second-quarter year-over-year results, according to a report issued by RealtyTrac. Realty Trac (RT), said that there were 739,714 foreclosure filings in the second quarter of 2008, a 14% quarterly increase. According to RealtyTrac, 48 of 50 states and 95 of 100 of the largest metropolitan areas experienced year-over-year increases in foreclosure activity in the second quarter.
Bank repos were 30% of the total for the second quarter, up from 24% of the total in the first quarter. Nevada was the highest highest monthly foreclosure rate. That There were 24,657 foreclosures filings in the second quarter. Go figure....Vegas was the Hot Spot, but now you can't give away property there. The playtime mecca is having a hard time staying open..... They place to be is now the place you can't sell. Since when did Vegas become an economic indicator. Last week on the news it said that brothels are down over 30%.....Evidently the pinch is greater than that market likes to lead on.