Across Florida we’re driving the foreclosure bus off the cliff
Banks rushing (or being forced) to complete foreclosures…why? (hint….it’s not so that new families can move into those homes…)
To say that this roundly refutes the soaring NAHB index is an understatement, because while on one hand builders say they have not been more confident since Lehman, their actions show something vastly different.
With permits, the situation was even worse: the headline number was supposed to print at 1050K, a modest decline from the pre-revised 1080K. Instead, not only was April revised lower to 1059K, but the actual headline number tumbled by 68K to 991K. This was the first triple digit permit number since January, and the biggest drop also since the winter when it was all the polar Vortex’ fault.
