The focus of our blog is on low cost, low tech housing solutions. But sometimes it’s good to stop and look at what’s happening in society. Even though I read about the economy every day, this article about the true rate of foreclosure is still shocking. Who wouldn’t be moved by what’s going on? Due to financial hardship, more people are investigating lower cost DIY housing alternatives such as earthbag building, straw bale construction, adobe and pole building.
“Let us take a look at the current state of the shadow inventory. You need to remember that the first two columns rarely show up on the MLS. These homes have yet to even hit the foreclosure process so do not show up as inventory. These are simply home owner’s not making payments on their home for a variety of reasons. Cure rates have been pathetic so most of these will end up as foreclosures. Then you move to the loans in foreclosure category and many are not on the MLS as well.”
Read the entire article at the source: Wealth Wire.com