News
Mortgagee sales at record high
Tuesday 24th of November 2009
There were 343 mortgagee sales in September, a 130% jump from the 149 such sales in September 2008, according to Terralink. Three years earlier, before the recession started to bite, there were just 16 foreclosures.
"We're likely to see mortgagee sales continue well into 2010," ANZ economist Phillip Borken says. A struggling labour market and a steady increase in household debt are "key...
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