Foreclosures continue to rise

30 Oct 2008

U.S. foreclosures have hit another high. According to RealtyTrac, foreclosures increased in the third quarter by 71 percent from the same period in 2007. The fall in the housing market is the biggest in 17 years.

That’s not all. The price of property fell by 5.9 percent from the previous year – the biggest fall since 1991 – according to the Federal Housing Finance



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Brian Blum

Brian Blum covers the U.S., Canada and Israel for Classified Intelligence Report, and contributes to our special reports and research projects. Originally from San Francisco and now based in Jerusalem, he has been with the AIM Group since 2004. He is the president of Blum Interactive Media, specializing in writing and multimedia content development for online, print, video and audio. His clients include newspapers, universities and non-profits. He is currently working on a book about the billion-dollar bankruptcy of a once high-flying Israeli startup.