The foreclosure crisis leveled off in May as the number of people facing foreclosure was nearly flat from a year ago, according to RealtyTrac, a private foreclosure listing service.
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As the housing bubble inflated, the math increasingly favored renting. House prices went up and up while rents stayed relatively flat, meaning you could get a lot more bang for your buck by choosing a lease over a deed. Now, with the housing market in a pulp, the tables are turning.
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Ever since the 1920s Florida has been cast as the place people go to escape contemplation, not to indulge in it. But in the past year, from Pensacola to Miami Beach, Floridians have been soul searching. And for good reason. The state’s decades-long binge on real estate has given way to empty homes in rich and poor neighborhoods alike. And yet if the Sunshine State is a larger-than-life reflection of where the country is heading, then the nation is still stuck, scared and uncertain of how far it wants to stray from the status quo.
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With a 4.1% increase, Cleveland posts strongest monthly performance among indexs 20 cities.
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