Florida’s struggling homeowners could get an 18-month reprieve on mortgage payments under a state plan to spend $418m in federal foreclosure prevention aid. … The money is part of $1.5bn the Obama administration announced in February for five states hardest hit by the real estate crash and unemployment. Other states sharing the $1.5bn are Nevada, California, Arizona and Michigan.
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The housing market is signaling there will be an economic recession by the 2020 election, according to Benn Steil, director of international economics at the Council on Foreign Relations.
Foreclosure activity sank in the third quarter of 2019, dropping to the lowest level in nearly 15 years, according to the latest report from ATTOM Data Solutions. Foreclosure activity in the third quarter fell 19% from a year ago to the lowest level since the second quarter of 2005, a 13-year low.