Obama's Foreclosure Plan

While some news outlets are touting the turnaround they claim to be in progress in the housing market, one of the key indicators they fail to mention in headlines, is that a high percentage of home sales, are those in distress, or foreclosure!

Smoke and Mirrors in the Real Estate Market

Regardless of who you choose to listen to, there is a big smoke and mirrors game going on behind the scenes in the real estate world. On one hand, they want to paint a real picture, but the more important part of news is to hide the REAL figures inside of articles, to keep consumers buying and try to restore confidence to a failing housing market.

Looking at the headline at the National Association of Realtors news release, one may just get the idea that home sales are on the rise! When you get a few paragraphs deep however, you see that 33% of existing home sales are distressed homes, or property that in foreclosure of one method or another!

Distressed properties, which declined to 33 percent of all sales in May from 45 percent in April, continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes.