Don’t fall for a fake foreclosure crisis

Recently, the foreclosure data showed a 21% year-over-year gain, and the floodgates of doom porn were flung wide open, with people marketing an impending home-price crash because they say so many Americans are struggling and it’s about to get worse. The hucksters of America are back at it again, and it went mainstream, too.Andrew Yang, the former presidential candidate for the Democratic Party, posted today on X: “The pain is spreading to homeowners. Highest foreclosure rate in 7 years and it gets worse from here.” He reposted an article from a traditional doom porn specialist on X, something we seem to have a lot of. Over the last few days, people have been sending me videos of an impending foreclosure crisis that would be worse than 2008 because apparently we also have the largest number of sellers versus buyers ever in the history of the U.S. That is also a lie, by the way. In 2007, we had 4 million active listings; today we are at 1.56 million. Normal levels are between 2 million and 2.5 million. This article will show you how to combat this narrative. There’s no foreclosure crisis, folks The best reference for this topic is the New York Federal Reserve and the chart below from...