FEAC Predicts Current Real Estate Market Conditions to
Fuel Increase in Foreclosures
Quarterly report examines national data and market trends; Finds that
investments in foreclosure market kept national inventory rates in check.
Boca Raton, FL (PRWEB) September 8, 2006 -- The Foreclosure Economic Advisory
Council (FEAC) today announced the availability of its second Quarterly Report
for 2006, which reveals that new foreclosure rates ended the quarter at the same
rate as the end of Q1.
The balance in inventory is attributed to investments in the market taking place
while new foreclosures continued to increase throughout the county. In fact,
California, New England, Nevada and Texas all experienced a spike in
The data also predicts that foreclosures will continue to increase significantly
by the end of the year as a result of home price appreciation rates returning to
single digits, the increasing inventory of available homes for sale and high
In the report, which examines national and regional data compiled by
Foreclosure.com from April to June 2006, FEAC member Dr. Jim Gaines a research
economist at Texas A & M University analyzes the current environment by
unlike past experiences when high foreclosures levels were primarily driven
by national, regional or local economic contractions, the recent phenomenon is
more directly linked to unprecedented mortgage terms and aggressive lending
The report also includes additional commentary from FEAC members regarding
factors that could have a significant impact on the economy and housing market
in the future. The following FEAC members are available to expand on commentary
related to the report:
Jim Gaines, Ph.D. Research Economist, Texas A&M University
Brad Geisen President and CEO, Foreclosure.com
Glenn Gromann, Esq. Partner, Smith & Gromann, P.A.
Michael Hardiman, CPM, CCIM, CSM President and CEO, National Home Management
Wanda A. Alexander CEO, Horizon Consulting, Inc.
For specific data, to obtain a copy of the report or to speak with a FEAC member
regarding trends, please contact Jocelyn Jara at (305) 520-9030.
About the Foreclosure Economic Advisory Council:
The Foreclosure Economic Advisory Council (FEAC) analyzes national foreclosure
trends to better support the goal of sustainable homeownership. The
not-for-profit organization is comprised of real estate experts who examine
national foreclosure data to develop an understanding of its causes. The FEAC
will publish reports each quarter that review the recent United States
foreclosure market, provide graphical representation of foreclosure hot spots,
and analyze quarterly data. On the Web:
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