US Foreclosures are increasing at a record pace. New foreclosures increased to 1.19 percent which is the first time it has been over 1 percent in the survey’s 29 year history. The Mortgage Bankers Association published the report today also noting that the total inventory of homes in foreclosure reached 2.75 percent. At the same time, home sales fell to a ten year low and the median price dropped 7.6 percent.
The report was published at 10 AM on September 5th, 2008 in Washington D.C. Looking at the horoscope, the lagna and moon rasi lord in 12th points to continuing losses. Saturn in the 11th with 11th lord however implies a slow and steady recovery of this market.