Honolulu Advertiser says “Home foreclosures triple”

The latest headline news from the Advertiser is “Home foreclosures triple in Hawaii”. At first glance it sounds pretty bad. 145 foreclosures up from 42 last year. However, as you read further it mentions Hawaii has one foreclosure for every 3,387 households, and the nation average was one per 510 households.

Then it goes on to say in the mid 1990s the foreclosure rate was between 4,000 to 5,000 per year. This really puts the 145 foreclosures last month in perspective.

You can read the article from this link.

I would like to get some discussion going on this blog.  Please let me know your thoughts on foreclosures and the market in general by adding your comments from the link below.