For years, the housing bust has had a huge impact on the economy. Yet four years on from the worst of the financial crisis and with recent evidence of a modest but measurable upturn in home prices, you'd think that we would already have put the biggest wave of mortgage foreclosures behind us.
Instead, we've seen foreclosures rise dramatically in certain parts of the country, with New York, New Jersey, and Connecticut seeing particularly big jumps in foreclosures. The New York metropolitan area led the nation with a 69% increase in filings related to the foreclosure and repossession process, even as much of the rest of the country saw declines. All this raises an important question: Will the foreclosure crisis ever end?
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