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Andrea

Metro foreclosures skyrocket

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Whoa!

http://www.ajc.com/business/content/busine...zforeclose.html

Atlanta's housing market is steadier than many in the country, but housing experts say that may not protect the local economy from the impact of a mass of foreclosures.

Equity Depot's figures show foreclosures in 13 metro counties rose to 25,276 through the end of July 2006, compared with 21,030 for 2005 and 10,956 in 2001.

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I always wondered what would mainly cause so my foreclosures to take place in any area. Me, not being a homeowner, but planning to become one in the near future, may not be as educated on this subject as others. I wondered if it was more in the sense of people continuing to try to "keep up with the Joneses" and getting in something over their heads, or if it was due to other economical factors.

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