Miami Foreclosures are on the rise
Thursday, May 29th, 2008Miami experienced one of the highest quarterly rate of foreclosure per household by the end of the last quarter of 2007. The highest foreclosures by state were recorded in Miami-Dade County, which saw auctions of 987 foreclosed properties in the first quarter of 2008. This means the rate of foreclosures in Miami was 127 per 1,000 households. In the last couple of years, Miami has had foreclosure rates that were higher than national average and the primary reason being that most Miami properties attract investors who want to buy properties for sole reason of flipping them for a profit.







