Mortgage crisis in the U.S. is just: foreclosures fall to seven-year low

The housing crisis that began six years ago in the U.S. is coming to an end after foreclosures come down to its lowest in nearly seven years in November.

According to a report from RealtyTrac , 113,454 default notices , auction and recovery, a drop of 15 % compared to October were sent. The figure represents the lowest level since December 2006.

The firm explained that 52.826 processes however , the slowest pace since December 2005 began.

"While some of the decline can be attributed to seasonality, the depth and breadth of the fall delivery is strong evidence that we are entering the last part of this crisis," said Daren Blomquist , vice president of RealtyTrac .

"In a year , all this will end ," he told Bloomberg Kenneth Rosen , chairman of the Fisher Center for Urban Economics and Real Estate at the University of California at Berkeley.

Sales up

Meanwhile, the discounts before the holidays boosted retail sales in November.

The Commerce Department reported yesterday that purchases 0.7 % , the fastest pace since June increased after a 0.6 % advance in October. Economists surveyed by Bloomberg and Reuters had expected sales , which represent about 30 % of consumer spending , will experience an increase of 0.6 %.

Calls core sales, which exclude autos, food services, gasoline and building materials , rose 0.5 % after increasing 0.7 % adjusted for the previous month.

This suggests that household spending will likely rebound from the worst performance in nearly four years recorded in the third quarter .

"We are getting a tailwind by lower gasoline prices , winds significant tail for greater wealth through stocks and real estate and last but certainly not least , an acceleration in wages ," said Bloomberg Joseph LaVorgna , chief U.S. economist at Deutsche Bank. "We're going in the right direction."

lower deficit

Meanwhile , the budget deficit narrowed more than expected in November as higher employment and rising incomes encouraged markets to a record high for the month.

Fiscal revenue rose 12.8 % from October to U.S. $ 182,500 million , while spending fell 4.8% to U.S. $ 317,700 million, according to the Treasury Department . As a result , the gap was U.S. $ 135,200 million , lower than the $ 140 billion projected .

Thus, in the first two months of fiscal 2014, the deficit reached
U.S. $ 226,800 million, compared to U.S. $ 291,100 million for the same period last year.