Tag Archives: ‘Luxury’ Foreclosures Soar

For the past two years, foreclosure activity has been increasing on higher-end homes at a faster pace than lower-end homes, says Daren Blomquist with RealtyTrac, a company that tracks foreclosure housing data. Foreclosure activity on homes priced at $1 million or higher have soared 489 percent between 2007 and 2011. On the other hand, foreclosure activity on properties worth less than that have jumped by 105 percent. Plenty of celebrities have been making headlines in recent years facing foreclosure woes on their properties, such as football star Terrell Owens (who […]