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Utah foreclosures up 52%
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Memo to people with their heads in the sand: Just because you tell yourself that is everything is �okay�, doesn�t make it so. The fact of the matter is that foreclosures will continue to increase and home prices and sales will continue to fall throughout the end of the year.
One could argue that Utah is number one for mental health problems because of the delusion and hallucinations that a majority of home sellers have regarding the value of their homes. For those who need or have to sell their homes, they will have to drastically reduce their asking price or enjoy foreclosure. This �delusion� is just one of the many reasons why things will be much worse in this market than many want to believe.
This is great news for the local housing market and the overall correction. I can�t wait for the Spring Bust!