Nicole Friedman wrote a WSJ article last Friday that detailed a surprising jump in foreclosures that reached a 6 yr high in the 1st qtr of 2026. The link to her article is here:
There’s an undercurrent out there that says this is just a return to pre-pandemic norms. Nicole says many analysts blame rising housing costs, like Condo/HOA dues, taxes and Insurance. Items in this category are a large part of the problem, but a broader view of inflation with day to day items is just as culpable. Food, Gas, automotive, home energy costs, maintenance costs, etc. are the slow bleeds that weaken personal finances daily. Many low and mid- income families are working extreme frugality into their purchasing to make ends meet. The article goes on to say that there’s also an increase in credit card and auto-loan delinquencies too.
There’s essentially a host of increasing incoming expenses that are rocking low income and middle class households. This distress is made evident in the foreclosure, credit card and auto loan delinquency rates, but is felt at every visit to the grocery store, gas pump and dept stores.
Foreclosures can do devastating damage to your life. Long term credit damage is assured. Many employers are looking at credit scores for new applicants as well. Foreclosures have a ripple effect that affects an expanding array of people’s lives.
There are things you can do. Speak to a financial planner, mortgage officer, Realtor and/or attorney. Get a range of ideas that encompass and merge a broad array of strategies from a variety of disciplines. Attacking the problem from a number of angles will give you more leverage to make meaningful change.
I know this is a stressful topic, but please try to have some fun this week too.
Lew McConkey, Realtor/Notary
Brook Realty, Serving Whitman Hanson & Surrounding Towns
(781)252-9789
If you have questions about your place in the current Real Estate market, as a buyer, seller or Landlord,
Please feel free to call text or email for your free, no obligation consultation.
