It was the ‘POP’ heard round the world when super inflated housing bubble burst in 2008. Much of the blame was placed on overzealous lenders and irresponsible buyers as housing prices began a steady march, finally bottoming out in 2012.
The Empire State saw its fair share of trouble. In 2011, 345,000 mortgages were either in default or delinquent and the number of underwater homes was even higher.
Many experts say the situation is finally turning around as prices begin to recover. This time around government agencies are hoping to prevent another unnecessary catastrophe by implementing new regulations and providing support through education grants at just about every level of the process.
There is no shortage of Americans hoping to claim their piece of the American Dream and I am definitely one of them.
June is National Homeownership month and I, along with the Innovation Trail, am launching a tumblr: nysjenna.tumblr.com chronicling my journey to home ownership.
