Welcome to the DevoreRealtyGroup.com Blog

2012-07-21 09:06:33
The sad truth about the foreclosure crisis

The Great Recession and the real estate market collapse have touched the lives of every American in some way.  Whether it’s someone who lost their home or someone whose brother or sister lost a job, the reach of these crises is far and deep.  Unfortunately, one of the groups hit the hardest is older Americans. 

According to a recent article in the San Francisco Chronicle, 1.5 million older Americans have already lost their homes.  The article goes on to quote some other frightening statistics provided by AARP:

  • About 600,000 people 50 or older are in some part of the foreclosure process
  • About 625,000 people in the same age group are at least 3 months behind on their mortgage payments
  • About 3.5 million, or 16% of older Americans, are underwater on their mortgages (they owe more than their home is worth). 

Not only have many of these Americans lost their homes, but many are still in danger of losing their homes.  The last statistic about older Americans being underwater is potentially the most devastating.  What if these people were counting on home equity to finance their retirement?  Will they have to postpone retirement?  Will they be forced to avoid prescriptions or other medical procedures in an attempt to save money?  

This group of Americans helped create the prosperous country in which we live.  It is sad to see that they are suffering so severely.  Hopefully those in charge will realize this and figure out a way to help ease the pain that these economic times has helped create. 


Bryan & Allison Devore

Prudential California Realty

(760) 908-3838

North San Diego County and Carlsbad Real Estate


  • Search for your next home on our website
  • Learn more about Rancho Carrillo in Carlsbad, CA
  • Like” our Facebook page
  • Follow us on Twitter
Blog Archive
2017-04-21 06:42:10
Why are renters staying put?

2017-04-20 06:49:29
Homeowner Value Estimates vs. Appraisals

2017-04-09 07:26:48
San Diego 8th Hottest Real Estate Market

2017-04-03 13:29:11
8 Questions to Ask When Deciding to Rent or Buy

2017-03-31 17:41:05
San Diego rent prices vs. home prices

2017-03-24 13:33:28
Preparing Your Budget for Buying Your First Home

2017-03-24 10:02:40
San Diego home prices dip in February

2017-03-15 17:54:30
County Housing Patterns Shifting

2017-03-03 11:32:47
Where millennials want to live might surprise you

2017-02-27 13:41:52
Misleading Math Behind the Rent vs Buy Calculation

2017-02-24 10:38:59
Older Americans Face Challenges Aging in Place

2017-02-21 15:12:32
Moving Less in U.S.: American Dream Takes a Hit

2017-02-07 13:52:11
Millennials, Housing, and the American Dream

2017-02-01 11:50:46
20 Hottest Markets for U.S. Real Estate in January

2017-01-31 18:13:12
January, February Prime Months to Purchase a Home

2017-01-26 14:47:42
Home Buyer Challenges for 2017

2017-01-19 12:21:59
Nation's Priciest House: $250M

2017-01-13 14:17:03
Are local housing's price gains real?

2017-01-13 12:06:22
Housing Outlook 2017: Eight Predictions

2016-12-30 11:05:38
Trump Win Could Usher in Boom for U.S. Housing

2016-12-19 18:12:11
Is the Starter Home Coming Back?

2016-12-19 17:28:35
Interest rate increased, where will consumers feel

2016-12-19 16:47:51
Step Aside HAMP, There's a New Kid in Town

2016-12-08 17:45:40
Marketwatch Report November 2016

2016-12-08 17:10:21
FHA Loan Limits To Rise in 2017

Click here to see ALL articles.

Comment on this Article

Your Name:
Your Email:
Verify:  Please enter the numbers shown to help eliminate spam.