When Will the Subprime Foreclosure Housing Recession End?

Did you know they would plunge so far? The home sales numbers for September, that is. And October home sales are going to be worse. There are a few home sales, but nothing like the fury before the subprime mortgage collapse. The home sales for September 2007 were the lowest since the National Association of Realtors started keeping track back in 1999. And giant Re/Max International tells us that it will indeed get worse.

When is the Housing Market Supposed to Get Better?

It's called a housing recession. But Re/Max says it will get worse before it gets better. Wednesday they released figures that show October 2007 home sales are down sharply from where they were last year - at least in cities it monitored - Seattle and Baltimore. Re/Max International claims they're down 44 percent from 2006.

What Areas Are Hardest Hit by the Subprime Foreclosure Recession?

September showed to be the worst month in eight years and off by 19 percent from 2006. According to the NAR, they haven't seen anything this bad but know that it won't get better anytime soon. Areas hit worst are California, Florida, and the Carolinas. Foreclosures are happening to everyone, but classified ad sections show announcement of foreclosures by mainly Spanish surnames, followed by anglo saxon.

Where is the Best Place to Get Foreclosure Information?

Scott Anderson of Wells Fargo says since states such as California and Florida had such booms, it is natural to see the reverse happen now that the market has basically imploded. He claims we will have price declines similar to the Great Depression - through 2008. Some say the Feds will cut the prime rate next week when they meet. Another Fed rate cut is expected in December.

The best place for foreclosure information is the Internet, followed by classified ads in local papers. Court houses carry foreclosure lists as well, but you may have to wait in line to see them as many are finding ways to make money on foreclosures.