It’s been a while since I did a Porker’s Index and they’re always fun.
Since I’ve got foreclosures on my mind lately let’s start with…
The Shadow Market
“Shadow market” in terms of home sales refers to incomplete short sales, pending foreclosures, and homeowners who are at least 3 months behind on their mortgage payments.
Unemployment in Chicago
August 2010: 11.4%
August 2012: 10.3%
Mortgages over 90 days past due in Chicago
August 2010: 10.4%
August 2012: 10.2%
Amazing how little has changed over the past two…
Months’ Inventory of Distressed Property, Chicago Metro Region
August 2010: 30.2
August 2012: 19.4
Moving right along, one of the main problems with distressed properties (short sales, foreclosures, and delinquent mortgages) is people spending too much on their mortgage payments.