2024 Foreclosure Update: Why Almost Everyone Got It Wrong

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Where’s the wave of foreclosures that everyone predicted a few years ago? After mortgage forbearances were implemented during the lockdowns, many housing market predictions forecasted an increase in foreclosures once payments came due. But that didn’t happen. Instead, we’re seeing rock-bottom foreclosure levels across the country, but some specific markets are seeing foreclosure rates rise.

So where are we now, and should we be preparing for an increase in foreclosures in the near future? Dave Meyer analyzed the latest foreclosure data to give an update on everything happening with mortgage delinquencies and consumer debt and whether or not the rising unemployment rate will force more foreclosures to finally happen.

00:00 Foreclosure Update
00:49 Sponsor: PropStream!
01:30 What is a Foreclosure?
02:45 The 2008 Crash
04:35 "Cooling" the Housing Market
05:10 2024 Foreclosure Data
07:27 Areas with MOST Foreclosures
09:15 Why Aren't Foreclosures Rising?

[RJLoans]

Very interesting with a lot of good information. The one thing that you’re not seeing is the number of wholesalers and investors who are reached out to people in the beginning stages of foreclosure and purchase their home or somehow bailed them out so that it did not get foreclosed on.

[RsBahamasBoy]

But 2024 isn’t over and it seems the chart is accounting for the entirety of the previous year’s foreclosures … maybe I’m wrong but by the end of 2024 it could potentially double, right?