Real Estate Bubble: The Flip Side of the Foreclosure Crisis
A close study of the foreclosure listings in the United States suggests how severely the nation has been affected by the overwhelming Real Estate crisis. The US State of Florida seems to be the one that is most affected by the Real Estate bubble. The value of the distressed properties has plummeted drastically and seems to show no signs of ceasing in the near future.
It has been estimated that the home prices shall drop to $1.7 trillion this year. For instance, in Boston, the Real Estate bubble is at its peak. As per the stats, the Boston Real Estate market, which was at $531 billion, has now plunged to $105 billion. The enormous plunge in home prices invariably differs from time to time and from state to state. The city of Boston has now witnessed the bitter side of the foreclosure crisis.
The Real Estate bubble has debilitated the very foundation of the US national economy. On Google maps, one can actually view the vast number of distressed properties that has fallen a prey to the foreclosure crisis. In these maps, the properties in foreclosure have been highlighted with red spots. To anyone viewing these maps, the dots would seem like a swarm of bees that have overshadowed the United States of America.
The persistent Real Estate crisis has urged nation’s financial analysts and journalists, to bring to light the harsh reality pertaining to the Real Estate bubble. The US state of Florida, where Real Estate prices have plunged down, has drastically triggered the highest number of bank failures in 2010. The only interim relief as opposed to this bleak Real Estate crisis is the fact that bank profits have risen to $ 14.5 billion in 2010.
It has been speculated that the Real Estate crisis shall ease down by 2014. Infuriated by this speculation, most individuals have voiced their opinion that struggling for another three more years is totally unacceptable. The Real Estate bubble that has befallen the US bears witness to the bleak side of the foreclosure crisis that has engulfed the nation. The Real Estate crisis has now become the flip side of the prevailing foreclosure crisis.
Original post: http://www.e-foreclosuresearch.com/blog/real-estate-bubble-foreclosure-crisis/ on E-ForeclosureSearch.com, your source of a foreclosure listings.
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