Zillow COO Spencer Rascoff Discusses Next Wave of Foreclosures on Fox Business
By: Jill Simmons, PR Manager | September 28, 2009
Our own Spencer Rascoff appeared on Fox Business this morning to discuss the next wave of foreclosures lurking on the horizon and how this will impact any housing recovery.
Foreclosure resales already make up 20 percent of home sales nationwide (and in certain places like Central California, Florida and Arizona that number is much, much higher). Another 1.4 million homes are at least 90 days or more overdue on their mortgage and the foreclosure process has not yet begun.
Watch Spencer discuss how this ticking time bomb of pent-up supply could delay any housing recovery. He also shares his thoughts on interest rates and the first-time home buyer tax credit.
- Stumble it!
- Categories: Real Estate Industry
Comments
3 Comments so far
Enjoy this post? Subscribe to the Zillow Blog feed or get updates via e-mail
Top 5 real estate posts of the day for 9/29/2009 on September 29, 2009 6:33 am
[...] Zillow COO discusses next wave of foreclosures on Fox Business – Interesting video interview on the “shadow” inventory with Zillow COO Spencer [...]
Baltimore Homes on September 29, 2009 4:35 pm
This inventory has not materialized at this stage of the game, however I will say that there will be another wave of foreclosures. It just may not be as pronounced at Spencer is reporting.
Free Loan Modification Kit on September 29, 2009 8:08 pm
Yes I agree with the second poster… There is def. going to be another “spike” in foreclosures but I do not feel it will be anything like it was a few years ago. I cannot wait until things really start to make a marked turn for the better. There are just too many good people out there having literally atrocities happening to them everyday