3 Structural Issues Holding Back The Housing Recovery

 In Florida, 45% of our clients are in pre-foreclosure status. On average, these Florida homeowners are 17 months delinquent and have yet to receive even their first formal foreclosure notice. 59% of our California clients are in pre-foreclosure status. These California borrowers are an average of 15 months delinquent and also have yet to receive their first formal foreclosure notice. Eighty-five percent of the homeowners we’re working with are in pre-foreclosure and have not made a mortgage payment for an average of 14 months.

Structural Issues 

• Kids graduating from college are deep in debt and holding off home buying, getting married, and starting families.
• Boomers looking to retire and downsize have few candidates able and willing to buy larger homes, even with deep discounts
• Shadow inventory and the pent-up foreclosure list are huge forces in play.