One very important piece of information should be noted. During the 1990s downturn foreclosures peaked in 1996 or six years into the housing slump. Today’s foreclosures have now surpassed the previous peak’s figures. And we are only 1+ year into our current housing slump.
Only time will tell what will happen 3-6 years into a slump. Of course, many are arguing that we have already hit bottom. I’m thinking that it’s just wishful thinking on the real estate boosters’ part.
