Florida Leads Nation in Foreclosures

[bulldogger]

Here's a link to an article in the Biz Journal...

Orlando Business Journal

[poonther]

How can this be? I mean we lead in the nation in job growth. All those high-wage (not) jobs being created here, surely these folks could afford to pay their mortgages.............It just baffles me.

[tampasteve]

Can't say if this is THE reason, but Florida has a HUGE speculative buyers market, that was especially true in the last couple of years in the real estate boom and subsequent correction. I would like to see statistics of speculative foreclosures as well as people that bought on interest only loans and now are having to move into regular loans.

Steve

[HeartofFlorida]

Can't say if this is THE reason, but Florida has a HUGE speculative buyers market, that was especially true in the last couple of years in the real estate boom and subsequent correction. I would like to see statistics of speculative foreclosures as well as people that bought on interest only loans and now are having to move into regular loans.

Steve