Mass. foreclosures rise 128% in January

[DS1]

Source: Boston Globe

Nearly 800 foreclosures were recorded in January, the highest number of Bay State homes lost during a single month since August 2007, the Warren Group said today.

The Warren Group of Boston is a provider of local real estate data and the publisher of Banker & Tradesman.

There were 799 foreclosure deeds in January, up 128.3 percent from the 350 deeds in January 2007, the firm said, and January 2008 also marks the highest number of deeds during any month since August 2007, when there were 1,018.

Auction announcements in January reached their highest number since the Warren Group began tracking them in 2005, the firm said, and there were 1,792 announcements in January 2008, up 77.8 percent from the 1,008 in January 2007.

Read more: http://www.boston.com/business/ticker/2008/02/mass_foreclosur_8.html

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Ouch.

[meegbear]

1. Holy Guacamole!

Dat ain't good.

[lovuian]

2. Nope this is a Depression coming up

and the Media is just ladi da

[MannyGoldstein]

3. If This Keeps Up For A Few Years

Then Mass. housing prices might become affordable again. Things are seriously unaffordable now.

[DS1]

4. No kidding

I knew people working for 'decent' pay who were dropping 450 or more on houses in order to turn a fast profit. I told them they were going to be screwn, but they laughed it off. Granted, it took two years longer than I'd expected, but I'll bet by now they're really hurting.

And for two of them, that makes me happy.

[MannyGoldstein]

5. It Was Really Astonishing

I was also off by a few years on predicting when.