Foreclosure Filings Hit 1.5 Million
The figures fresh out of the housing market is still set to grow as more than 65% of all refinancing deals are falling into default. Such is the condition of the housing market that stands to be one of the worst in recent history, and as experts predict more home price drops in the coming months recovery for the industry that started it all it couldn’t have gotten any worse. The government is extending a hand in getting people to buy homes, offering as much as $8,000 dollars in tax discounts for firt time single family home buyers as incentive. The bailout has merely bumped the problem, now being hailed as an utter failure with many government insiders saying that the bailout wasn’t expected to work anyway. Rumors of another round of bailouts are in the works but this time round, it may not be too well accepted for they have seen the last one fail.