This is a recent article written by biggerpockets.com. You can read the full story here.
Nationwide housing prices continue their downward march, though at a slowing rate. Foreclosures were down nationally in January 2010 , but still claimed a staggering 474,000 properties. Nevada was number one on the list with 1 in 76 property owners losing their homes.
The “blame game” has reached a fever pitch as politicians, bankers, and individuals each take pot shots at each other to assign responsibility. There is certainly enough fault to go around. However, individual consumers’ lack of knowledge on housing, interest rates, contracts, and financial markets must claim part of the responsibility.
Consider a surprising trend – the average high school student thinks he/she will make $145K a year in the work force. On the other hand, only 34 percent of teens understand credit card fees and the bankruptcy rate among 18 to 24 year olds has increased by 96% over the last ten years.
Read the rest of the story here.
