Economists are expecting the high levels of bank foreclosed properties and tax deed properties to continue to depress the housing market of Georgia in 2011. They stated that the housing sector will continue to be under pressure from the amount of unsold foreclosed properties in the market just like last year.
Foreclosed properties, including Decatur foreclosures, GA, will remain high in the region in 2011, with increased number of homeowners behind in their monthly mortgage payments recorded during the last quarter of 2010. According to local economists, the 11,000 homeowners in the state that received foreclosed property-related filings in December of last year will bring the number of foreclosures higher in 2011.
The December figure for filings means that one household out of every 365 is under foreclosures in Georgia.
Advocates say Brooklyn Bridge Park misled the federal government when it turned over the Tobacco Warehouse to developers.