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Nobody knows for sure. But the article title is a bit misleading. It’s not a huge surge in foreclosures that weren’t expected.
“Despite the increases, foreclosure rates remain just about level with pre-pandemic lows. Analysts at Fitch have said the latest increase in distressed borrowers is a "normalization" process after a pandemic period when many consumers benefited from loan forbearances and government assistance.”
Subject Expert
Supply levels are still at record lows. This will barely be a blip on the radar, especially since most foreclosures aren’t in “retail” condition.
Subject Expert
Unlikely that the whole of the real estate market will drastically change due to the small increase in foreclosures.