For three consecutive months, metro Atlanta’s foreclosure rate has dropped to levels not seen since 2006, prompting housing experts to declare an end to the mortgage crisis that has rocked the region.
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WHY IT MATTERS
Foreclosures can hurt home values, which are important even to people who aren’t likely to sell or buy anytime soon. Home values contribute to the so-called “wealth effect” that helps drive the broader economy by making people more confident about purchases of all types.
Metro Atlanta foreclosure notices through October
2006…..37,290…..up 21.3 percent
2007…..48,121…..up 29 percent
2008…..66,924…..up 39.1 percent
2009…..97,339…..up 45.4 percent
2010…..103,603…..up 6.4 percent
2011…..91,440…..down 11.7 percent
2012…..80,176…..down 12.3 percent
2013…..44,935…..down 44 percent
Source: Equity Depot