It's the same story with two very different headlines and perspectives
... so what's up with that.
RealtyTrac released their foreclosure report overnight and the reporting from Bloomberg and CNN was vastly different. Bloomberg continued to report in the most negative manner continuing coverage from the other day with this headline: US home seizures reach record for third time in five months while CNN Money was somewhat more comforting with this, Foreclosure rates hold steady.
But despite the more comforting headline from CNN, be assured that the foreclosure problem is not going away anytime soon.
Nevada had the highest rate for the 44th consecutive month with one in 84 homes, Florida second, Arizona third, California fourth and surprisingly, Idaho placed fifth. Five states accounted for more than half of all filings led by California with 20 percent of the national total and followed by Florida, Michigan, Illinois and Arizona.
For some reason, RealtyTrac didn't include all the states this month so there was no way to find out where South Carolina placed and of course, they don't break down by city or metropolitan area to find out how the Charleston real estate market is doing and it's just my opinion but with only two and a half to five percent of all homes for sale in Charleston listed as lender owned properties, it's obvious that the above named states drive most of the media coverage.