|More people lost their homes this fall and several more are on the verge of losing their most valuable possessions forever. According to a report, there are no less than 1.7 million homeowners who are finding it tough to continue with their mortgage payment. Sooner or later their houses will go the way of foreclosure pushing the prices of houses available for sale in the US market further down, the report concludes.
Industry experts are of the opinion that the trend will continue to baffle the housing market across the nation for a few more years. The inventory of foreclosed homes will continue to pile up with buyers and investors showing less interest in putting money in the real estate industry. Real estate practitioners too anticipate a tougher time ahead with rising foreclosures and falling home values.