Destin , FL – July 12, 2011 – (RealEstateRama) — An overwhelming majority of respondents surveyed feel that the foreclosure crisis is directly affecting their neighborhoods in the U.S., according to a new Housing Predictor poll.
That’s the way Americans feel about the massive foreclosure crisis, which has forcibly taken the homes of more than 7-million U.S. homeowners and is forecast to force at least another 8 million homeowners out of their homes. An estimated 4 million residential properties are currently either in the formal foreclosure process or are more than 60 days in default on mortgages.
Foreclosures pressure nearby housing prices, reducing the saleable values of adjoining homes and damage neighborhoods. Some of the hardest hit housing markets in the nation, which include communities from Florida to Ohio and across the U.S. to California, have seen home values drop by an average of more than 80%.
The crisis has already produced the worst real estate crash in U. S. history, exceeding the Great Depression. Housing Predictor regularly surveys visitors to its website on important issues related to real estate to get a pulse on how consumers feel and tracks more than 230 local housing markets in all 50 U.S. states, forecasts markets across the country and keeps visitors up to date on real estate news and mortgage interest rates.
