Posted February 26, 2008
Inflation is in full effect. Still in the midst of our current recession, which no one wants to admit is here, the Producer Price Index rises above expectations. Also the foreclosure rate is continuing to balloon:
Nevada had the highest foreclosure rate, with 6,087 foreclosures filed. California, Florida, Arizona, Colorado, Massachusetts, Georgia, Connecticut, Ohio and Michigan rounded out the top 10.
This is definitely a crisis. I can remember a few years ago reading about the insanely high appreciation rates in Nevada and Florida, as high as 30%! Now if you are trying to sell a property you’ll have to take 30% less than its value, and that of course is if you can even find a seller.
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