Added on May 26, 2011
Jason Rink
Foreclosure sales slow, but remain very high
foreclosures
Sales of homes in some stage of foreclosure declined in the first three months of the year, but they still accounted for 28 percent of all home sales — a share nearly six times higher than what it would be in a healthy housing market.
Foreclosure sales, which include homes purchased after they received a notice of default or were repossessed by lenders, hit the highest share of overall sales in a year during the first quarter, foreclosure listing firm RealtyTrac Inc. said Thursday.
“It’s an astronomically high number,” said Rick Sharga, a senior vice president at RealtyTrac. “In a normal market, you’re looking at the percentage of homes sold in foreclosure to be below 5 percent.”
The pace at which homes are entering the foreclosure process has slowed in recent months amid bank and court delays. But distressed properties remain a fixture of a housing market still searching for a sustained recovery. The properties, often in need of repair, typically sell at a discount, weakening prices for other types of homes.
Read the whole story here.
by Jason Rink
Jason is a contributing author of "Ron Paul: A Life of Ideas," the biography of Congressman Ron Paul, and the author of"Disciple of Liberty: Seven Priorities of a Christian Patriot."
His work has also been featured on the anti-war, anti-state, pro-market website Lewrockwell.com.
He has appeared as a guest on FOX Business Channel's "America's Nightly Scoreboard" , the FOX News program "On The Record with Greta Van Susteren," and "Freedom Watch" with Judge Andrew Napolitano.
Jason is a former pastor and church planter. He also was a Vice President with JP Morgan Chase, a position he held while simultaneously working as a grassroots activist to End the Federal Reserve. He is one of the founders of the Ohio Freedom Alliance, and Ohio Liberty Council. Currently, he is the Executive Director of The Foundation for a Free Society, a 501c3 non-profit, educational organization in Austin, Texas.
Over the last 10 years, he has spoken over one-hundred times to audiences of all ages, ranging from 20 to 20,000 in attendance. He speaks on topics such as State Sovereignty, the U.S. Constitution, Early American History, Political Activism, Money and Economics.
Jason lives in Austin, TX with his wife of 11 years, Tisa, his 10-year old son, Ethan, and dog named Rocco. Check out his personal website at JasonRink.com.
