Foreclosure SURGE! | Palm Bay, Florida | Melbourne, Florida | 2023

If you have watched the news lately, you may have seen WESH 2 report that Palm Bay was ranked No.4 in the country for foreclosures just behind Lakeland, Florida (No.1), Elkhart, Indiana (No.2), and Cleveland, Ohio (No.3). With a recession looming in our future, this leaves many wondering, are we headed towards another 2008 housing market crash? The short answer is no. A recession does not always equate to a housing market crash and an uptick in foreclosures won't necessarily cause one either. During the Covid 19 Pandemic, financial assistance, mortgage forbearance, and foreclosure moratoriums were all implemented in attempts to reduce economic damage. The foreclosure moratoriums were lifted in June 2022 and now all of the financial assistance programs have come to an end. This is what is causing the uptick in foreclosure activity.

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✅ Alexandra Shupe - Call, Text, or Email anytime!
🤓 Realtor & Former FBI Intelligence Specialist
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CHAPTERS:
00:00 - Intro
00:46 - Attom US Foreclosure Market Report
01:29 - People are saying...
01:55 - Putting things into perspective
02:41 - Cause of foreclosures
02:56 - Thank you!
03:16 - Cause of foreclosures
05:40 Outro
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