When the housing crisis kicked up in 2007, foreclosures became a nationwide fear for American families. Between 2007 and this year, a whopping 5 million Americans lost their homes to foreclosure. Homeowners grew more and more fearful as neighbors disappeared and property values dropped off. Those foreclosed upon found themselves with ruined credit — making another home purchase impossible as they were turned down for even small loans and credit cards.
Of course, real estate investors took this chance to buy foreclosed properties and slowly, slowly breathe life back into the real estate market. But now, eight years later, where are we?