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Another good housing sign: Bankruptcies down

Posted by Scott Van Voorhis January 21, 2013 08:22 AM

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The number of homeowners and others filing for bankruptcy protection in Massachusetts plunged during 2012.

There was an 18 percent decline across the state in personal bankruptcy filings in 2012 compared to the year before, The Warren Group reports this morning.

An improving economy and a rebounding housing market are clearly helping bail out some struggling consumers.

Foreclosures are also on the decline as well. Foreclosures dropped 60 percent in November from the same month a year before, to 295, the Boston-based real estate publisher and data firm finds. Foreclosures are down 8 percent, year-to-date, through the end of November

And as the financial health of the average Massachusetts consumer improves, that could be good news for the coming spring market.

Are you feeling better financially? Have you been able to pay down debt? And what impact this had on your housing plans? Are you ready to buy now? Or conversely, is it easier now for you to sell?


This blog is not written or edited by Boston.com or the Boston Globe.
The author is solely responsible for the content.

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About boston real estate now
Scott Van Voorhis is a freelance writer who specializes in real estate and business issues.

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