So many real estate articles on the web are chirpy, as if the last two years had never happened. Let’s talk about some bad news for a change.

You’re in real estate, which is why you’re on the internet looking for real estate articles to read. Whether you’re lay buyer or first-time seller, whether you’re a professional investor or an attorney specializing in property transactions, you’re in real estate, and you want information to help you with this business.

But so many real estate articles on the web are written as if the last two years had never happened. So why not let us talk about the bad news for a change! After all, it’s also important when making decisions of consequence.

So let’s talk about those mortgages, the very ones that first started this whole financial mess that’s contaminated economies the world over. Specifically, mortgage delinquencies. Yes, delinquencies. When folks can’t pay what they owe – and, even worse, owe more than what the property is worth!

A recently completed industry survey found that the rate at which mortgage payments have fallen behind has actually decreased during the ending quarter of 2009. This is a surprising find because delinquency usually rises during the last three months of the year due to holiday spending and winter heating costs. However, it’s doubtful that this otherwise welcome finding means much beyond itself because the overall picture is still very dire with record numbers of homeowners in financial distress. Moreover, foreclosure rates are expected to remain at very high levels.

Now this article is all about bad news. But we have to talk about governmental reaction to that bad news, which may then seem like good news, actually. But let’s remain pessimists and focus on the fact that such government action is even necessary just goes to show how bad it really is! So don’t be fooled by that light at the end of this tunnel – which belongs to an oncoming train.

Or, as Andy Grove, co-founder of Intel was quoted as saying, only the paranoid survive.

And in recognition of the doom and gloom across the land, Uncle Sam has once more stepped in on behalf of those with little or no equity in their homes, announcing that an additional five and a half billion dollars in aid will be made available, especially to states such as California and Florida which data show to be the home of a majority of these troubled loans. But because this merely extends an existing refinancing program that has reported little progress in over a year, we are justified in keeping our pessimistic outlook. Indeed, it’s been well over two years after the housing market meltdown and still there is no evidence of a recovery anytime soon.

Disclaimer: Be advised that such information as has been presented so far only constitutes mere opinion and should under no circumstances be misconstrued for professional advice of any kind whatsoever! Always consult those properly licensed and/or otherwise qualified when it comes to making business decisions of any financial importance.

Author Bio: Barbra I. Miller writes frequently on real estate topics for various online publications. Please visit FrugalRealEstateInvestorTips.com for more great articles from industry insiders such as Isaac Toussie and others!

Category: Real Estate
Keywords: real estate, news, property, investing, realty