Bankruptcy

Foreclosures Continue to Climb (46%), Car Sales Fall Locally (41%)

By mcbride

Despite the various governmental  programs and packages, home foreclosures continue to climb steeply.  ?Foreclosure filings ? default notices, auction sale notices and bank repossessions ? were reported on 341,180 properties in March, 46% more than a year ago and 17% above February’s total, RealtyTrac reports today.?

Here is a link to one article on this topic: http://www.usatoday.com/money/economy/housing/2009-04-16-foreclosures_N.htm

In local news, although North Texas is probably the best place to be in the country from an economic standpoint, it is not immune to the systemic downturn.  Car sales have fallen locally by 41% in March. ?Retail sales for the Metroplex?s four biggest counties ? Collin, Denton, Dallas and Tarrant ? declined 42.5 percent in March compared with 2008 and 34.6 percent for the year?s first three months?.[Sales of all car brands are falling, with one exception.] Only Hyundai-Kia products, according to Automotive News, have bucked the trend with a scant 0.7 percent sales gain.?

Here is a link to this article from the Fort Worth paper: http://www.star-telegram.com/metro_news/story/1319861.html

Michael

Full post as published by Texas Lawyer Blog on April 16, 2009 (boomark / email).