The foreclosure crisis that torpedoed metro Atlanta home values has finally passed — at least by one month’s measure.
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Foreclosure notices in the month of August
2005 - 3,676
2006 - 3,989
2007 - 5,075
2008 - 6,479
2009 - 9,930
2010 - 13,130
2011 - 9,953
2012 - 6,426
2013 - 3,650
Source: Equity Depot
WHY IT MATTERS
Foreclosures can have a devastating effect on home values, especially when there are a lot in one area. And that affects the whole economy because home values are part of the so-called “wealth effect.” When the value of assets such as homes or stocks fall, people feel less confident and are less likely to spend money and stimulate the economy.