n/a
JULY 22, 2009
Fed chairman: Foreclosures yet to reach peak
Foreclosures will rise through the rest of the year, according to Federal Reserve Chairman Ben Bernanke:
"The combination of unemployment and falling house prices -- the double trigger -- does create a very high rate of foreclosures," he said. "Our assessment of the foreclosures is that it's likely to peak in the second half of 2009, corresponding with the peak in the unemployment rate and, perhaps, be somewhat less in 2010."
Bernanke is speaking for the entire country, of course. In June, foreclosures in the Tampa Bay area were lower than I'd expected, though still high. Could have been a temporary blip. Could have foreshadowed an improvement.
Join the discussion: Click to view comments, add yours
Most Recent Blog Posts
1 in 5 Tampa Bay offices vacant April 05
About the blog
Housing market news is the focus of the (Un)Real Estate blog. It offers an inside look at the Florida housing market and real estate news, with a focus on Tampa Bay. Its goal? Simple: To help you keep a roof over your head without losing your shirt.
Advertisement
Follow us on Facebook
TampaBay.com on Facebook
Comment Policy
| Please be sure your comments are appropriate before submitting them. Inappropriate comments include content that: |
| Is libelous |
| Is abusive, harassing, or threatening |
| Is obscene, vulgar, or profane |
| Is racially, ethnically or religiously offensive |
| Is illegal or encourages criminal acts |
| Is known to be inaccurate or contains a false attribution |
| Infringes copyrights, trademarks, publicity or any other rights of others |
| Impersonates anyone (actual or fictitious) |
| Solicits funds, goods or services, or advertises |
| The St. Petersburg Times does not edit posts but reserves the right to delete comments that violate our policy. |
n/a
