More Likely to See Bigfoot than a Bunch of Foreclosures in 2023: Fake Foreclosure Crisis

There are virtually no foreclosures in 2023 given that Las Vegas is the 2nd highest market in the US for Foreclosures and we are averaging 1 foreclosure every 3 days. You are more likely to see Bigfoot than to run into a wave of foreclosures in 2023 or 2024. The national late mortgage rate is only .67% which is the lowest rate in the last 40 years. Also the rate of foreclosures is about .07% which is about 10% of a normal year. There are hardly enough defaults to even create a normal number of foreclosures and it is unlikely that a wave of foreclosures will crash the housing market in 2023 or 2024.

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