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January 24, 2013

 

Florida: An Overview of Foreclosures
The Florida Legislature Office of Economic and Demographic Research

An in-depth report has been published citing Florida’s foreclosure activity over the past year. According to the report, in 2012 “Florida had the highest foreclosure rate in the US for the first time since the housing crisis began.” Counties that suffered the most were Okeechobee, Miami-Dade and DeSoto, each county had over 15 percent of their home loans in foreclosure. Nearly 750,000 homes throughout the state are underwater (homes are worth less than owner’s purchase price). Foreclosures also have a positive effect on the market however, the supply of low-priced homes increases and attracts buyers and construction needs rise for homes needing rehabilitation and reconstruction. More…

 

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