BiggerPockets Real Estate Podcast 580: BiggerNews March: How a Surge of Foreclosures Will Impact the Housing Market w/Auction.com’s Daren Blomquist
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Mar 8, 2022 
Daren Blomquist, VP of Market Economics at Auction.com, dives into the current state of the foreclosure market. With data-driven insights, he discusses the implications of rising foreclosures on housing inventory, contrasting it with the equity many homeowners have gained. The conversation touches on pandemic-related factors impacting foreclosures, the psychology behind real estate decisions, and investment strategies for navigating future market trends. Daren’s expertise sheds light on whether we’re on the brink of another crisis or witnessing a shifting opportunity.
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Foreclosure History
- Foreclosure activity peaked in 2010 with one million instances, declining to 215,000 by 2019.
- This 2019 level represents a return to pre-housing crisis normalcy.
Pandemic Impact
- The 2020 pandemic triggered foreclosure moratoriums and forbearance programs, impacting market dynamics.
- The forbearance program allowed homeowners to pause mortgage payments for up to 18 months without penalty.
Strategic Forbearance
- David Green notes that many people entered forbearance even without financial hardship.
- They strategically paused payments to accumulate cash, contributing to fears of a foreclosure surge.