Double Dip in Housing Market Means More Bankruptcies

Home Prices Set to Decline Still Further

Between November of 2008 to April 2009, home prices around the U.S. plummeted and have been fluctuating since without rising much. The housing market is now on the verge of what is being referred to as a “double dip” and Utah is no exception.  What this means is foreclosures will rise…again.

Since the start of the housing bust around the year 2007 Atlanta, Charlotte, Miami, Portland, Seattle and Tampa reached their lowest levels. Home prices around the nation will only continue to fall. Industry experts found their anticipations for what has happened to be very inadequate in comparison to the actual damage. Among the twenty cities that were hit the worse, no one expected them to all drop so hard and fast.

This may sound like good news to homebuyers throughout the nation. Low prices on homes would be ideal for those seeking to buy a home at this time, but dramatic drops in home prices is a manifestation of the dire financial circumstances our nation is currently facing. The nation as a whole has been suffering financially for some time now. Manifestations such as this will continue to come to light and we are forced to face them. Because of the nation’s financial instability many citizens are struggling as well. Bankruptcy and foreclosure are all too common in our current society.

Salcido Law Firm Can Help Protect You From the Housing Collapse

You can find competent legal help while suffering from financial troubles during these times. The bankruptcy attorneys at the law firm of Salcido Law Firm are aware of the nation’s financial situation and know how to help when it fall on you. A Salcido Law Firm lawyer can help you with your foreclosure or bankruptcy case. If you are currently facing risk of bankruptcy or foreclosure, call us at 801.413.1753 to schedule a free consultation and speak with one of our bankruptcy attorneys.

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