Your inside source for real estate, development and construction information serving the counties of Mecklenburg, Union & Iredell VOLUME 97 NUMBER 113 ■ MECKTIMES.COM
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Foreclosure Activity Increases as Moratorium is Lifted
What It Takes to Break Out of the 9-to-5 Rut Page 7
Strong Equity May Not Be Enough to Stave Off Foreclosures Page 2
Nonresidential Construction Sector Posts First Job Gain Since March Page 3
Crescent Names Natwick as Chief Executive Officer Page 4
Charlotte Releases First Draft of Development Ordinance Page 4
Crescent Announces New Multifamily Community
U.S. Foreclosure Starts Increase 67 Percent From a Year Ago
ATTOM has released its Q3 2021 U.S. Foreclosure Market Report, which shows there were a total of 45,517 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — up 34 percent from the previous quarter and 68 percent from a year ago. The report also shows there were a total of 19,609 U.S. properties with foreclosure filings in September 2021, up 24 percent from the previous month and up 102 percent from September 2020. “Despite the increased level of foreclosure activity in September, we’re still far below historically normal numbers,” said Rick Sharga, executive vice president at
RealtyTrac, an ATTOM company. “September foreclosure actions were almost 70 percent lower than they were prior to the COVID-19 pandemic in September of 2019, and Q3 foreclosure activity was 60 percent lower than the same quarter that year. Even with similar increases in foreclosures over the next few months, we’ll end the year significantly below what we’d see in a normal housing market.” Foreclosure starts jump up nationwide Lenders started the foreclosure process on 25,209 U.S. properties in Q3 2021, up 32 percent from the previous quarter and up 67 percent from a year ago — the
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A Securities Law Primer for Startups Page 7
Much is left to be determined about the variant, including how much damage it will do the global economy by slowing down already gummed-up supply chains or scaring people away from stores. The uncertainty has sent Wall Street through jagged up-and-down jolts as governments tightened restrictions in hopes of slowing its spread.
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