Palm Coast, FL – February 20, 2013 – U.S. foreclosure starts dropped to a six-year low in January, another strong indication that the U.S. housing market is recovering and the worst of the foreclosure crisis is behind us.
But what specifically is driving this decreasing foreclosure activity? Is it simply a matter of rising home prices pulling more troubled homeowners back from the brink of foreclosure? Or should the numerous foreclosure prevention efforts at the national, state and local level get the lion’s share of the credit for the slowdown in foreclosure activity?
Toby's Commentary: Note that Forbes cites RealtyTrac as its foreclosure information sources. I find RealtyTrac's reported statistics unreliable. Forbes is credible and generally reliable but this article cannot be taken too seriously because the underpinning data is likely flawed. However, I do support Forbes' conclusion that the worst of the foreclosure crisis has past.