As the economy goes through a recession, more and more houses are foreclosed or put on the market for sale. This is apparent with the number of houses that are bank owned and the number of people moving.
Who's fault is it? Is it the banks or the buyer? One thing is for sure, banks should of never given home loans to people that can't afford them. In addition, interest rates should of been controlled.
The other factor is jobs, people are loosing their jobs, making it of course impossible to pay their loans. The other side of this downfall, is if you have the money it's a buying market.
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