Foreclosure crisis reaches well off suburbs and small towns in US

[Nicholas Wallwork]

The foreclosure crisis in the US is moving into small towns and suburbs which have previously been untouched by the economic downturn, according to new research.

A new report from RealtyTrac show a dramatic increase in foreclosures from a year ago in suburban areas previously believed to be more stable, such as Boise, Idaho, up nearly 22% from the second quarter of the year and Provo, Utah, which saw foreclosures up almost 11% in the same period.

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[mylesseo]

Sounds bad, better to have short sales rather than foreclosures even though there are agents experts in foreclosure listing still if this crisis continue it seems not good real estate market in that place.