Foreclosure Expert Tackles Myths, Says No New Wave Coming

Foreclosure Expert Tackles Myths, Says No New Wave Coming

sac-biz-journal

Sean O’Toole likes to talk about foreclosure “myths.”

The founder of PropertyRadar®, which tracks default trends, appeared before the Sacramento Association of Realtors on Tuesday and offered what he called a contrarian view of the housing crisis. The first myth: “Foreclosures are evil.”

Not true, O'Toole said. Foreclosures did not cause prices to fall. They don’t cause neighborhood blight, and there is not going to be a tsunami of new foreclosures in 2013.


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