Real Estate, Mortgage News

Real Estate News and Press Release Distribution Services
Submit Press Release | Submit RSS Feed | About US | Contact Us

Home | Real Estate News | Mortgage Rates
Unlimited Press Release Distribution
Press release distribution service


News Media
CNN Money
Costar Group
Inman News


Los Angeles Times


National Real Estate Investor
Mortgage News Daily
New York Times
Realtor Magazine
RISMedia
Wall Street Journal
Yahoo Finance
Zawya
RSS News Feed
Get your news feed listed here as other news media shown below! Submit RSS News Feed

Mercury News
New York Post

Real Estate News Releases

Chrysler Layoffs Will Impact Foreclosure Rates in the Eastern U.S.

(EMAILWIRE.COM, February 19, 2007 ) SACRAMENTO, CALIF – On Valentine’s Day in 2007 Auburn Hills, MI based Chrysler announced that it will be laying off 13,000 workers at plants in Michigan, Delaware, and elsewhere. The immediate impact of this on the affected employees and their families will be serious, and a corollary impact will be felt in the housing sector.Students of the history of real estate cycles and residential foreclosure rates will be able to make a connection between past examples of how massive employer layoffs can have a ripple effect on home selling prices and mortgage default rates. It is no secret that foreclosures are on the rise in the United States, and many experts agree that we have not seen an end to the increase in these sad happenings.According to California foreclosure expert, Patrick McGilvray, J.D., President of http://www.TheHomeBuyingCenter.com, “foreclosure rates are ‘lagging indicators’ that show the impact of economic trends in retrospect. It can take years for the impact of large-scale job losses to be fully felt in the economy.”Another foreclosure expert, George Roddy, President of Addison, TX based Foreclosure Listing Service Inc., had this to say about Texas’ residential housing crisis in the late 1980s, “too many people had gotten into homes artificially inflated by the availability of too much money. By the late 1980s people were having trouble selling their homes for what they paid for them.” The availability of cheap money has been a prominent theme, and ‘crazy loans’ such as interest only adjustable rate mortgages have grown exponentially in recent years. Additionally, many borrowers throughout the country are going into foreclosure because they cannot afford their housing payments, and currently owe more than their homes are worth.Mr. Roddy hd this to say, when asked about today’s statistics, “We’re not yet seeing a slowdown in the foreclosure figures; in fact, we’re seeing higher numbers. Where’s this going to take us? We could be in for a long haul.”In auto industry dependent Michigan, for example, home foreclosures in January occurred at a 2.5 times higher rate than in January 2006. The state is among the most deeply affected by foreclosures. One in every 366 houses there was in foreclosure last month according to California-based RealtyTrac, Inc.Contact: Patrick McGilvray, J.D. Tel: 916-920-3278 http://www.thehomebuyingcenter.com manny@thehomebuyingcenter.com


Patrick McGilvray, J.D.
Patrick McGilvray, J.D.

patrick@thehomebuyingcenter.com


Real Estate News by Sector
  • Appraiser
  • Consumer News
  • Commercial
  • Mortgage News
  • Property Law
  • REIT News
  • Sales, Marketing
  • Technology

  • Real Estate RSS Marketpalce

    Submit RSS news feed on Real Estate.
    Have your feed on real estate news, products or services displayed under this marketpalce and have your feed on a full page updated daily. Click on example below. Add RSS feed Now!

    EmailWire Real Estate News Releases
    News releases on real estate as posted by businesses, organizations and experts.


    Press release service

    ESTATENewswire is part of GropWeb Network, online properties of GroupWeb Media LLC. Copyright © GroupWeb Media LLC. All Rights Reserved.

    For unlimited press release distribution for $99 per month or $999 per year, call (281) 645-4086 or start posting your press releases online at EmailWire.com.
    Copyright 2009 GroupWeb Media LLC

    GroupWeb Media Network
    AfricaNewswire.Net | AppleNews247.Com | AsiaNewsWire.Net | Aviation-NewsWire | Energy Industry | EstateNewsWire | Entertainment-NewsWire.com | Food Beverage News | Glamour NewsWire | Health NewsWire | Hosting NewsWire | i-Auto NewsWire | i-Business News | EuropeNewsWire.Net | iCameroon.com | i-Canada-News.Com | i-SoftwareNews.com | iT-NewsWire.Com
    | InvestorsNewsDesk.Com | i-TravelNewsWire.Com | LegalLaw247.com | Medical-NewsWire.com | MiningNewsWire.net | MoneyNewsWire.Net | Movie-Stars-News.Com | PayDayNews247.Com | PharmaNewsWire.Com | Publishing-NewsWire.Com | Shopping-NewsWire.com | Telecom-NewsWire.Net | Transportation-News.Com | USGovernment-News.Com | WebPosters.Net | Wireless-NewsWire.Com |
    ESTATENewswire.Com - Newswire and Press Release service of GroupWeb Media LLC