NEW STUDY SHOWS FORECLOSURES DRIVING DOWN PRICES FOR EVERGREEN COLORADO REAL ESTATE
A new study done in Massachusetts demonstrates that a foreclosure in the neighborhood will drive down prices by approximately 1% for each foreclosure. The foreclosed property itself will sell, on average, for 27% less than market value. Additionally, many of these homes also pull prices down because they are vacant, unkept, and vandalized.
Often prices will fall as the income levels for the community decline and the housing market adjusts to high unemployment. The persistent job loss softens demand and tends to push down all incomes as companies cut back on jobs, overtime, bonuses, and salary increases.
American business are struggling to acclimate themselves to the new free global market place. The government burdens on businesses and the onerous foolish regulations are killing American competitiveness abroad. Both labor and management must adapt to the new global paradigm or fall hopelessly behind the rest of the world.
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