| WSTC/WNLK Local News |
Tough Economy Connected To Rise in Foreclosures in the State
With the tough economy, there was a dramatic increase in foreclosures in Connecticut last month. Realtytrac.com reports a 136 percent rise in activity from September through October. Economist Donald Klepper-Smith, says the state's housing market has been contracting for the past two months. Klepper-Smith asya he does not see much improvement in the state's economy until late next year or early 2010. Klepper-Smith says the rate of change has been problematic, and restoration of consumer confidence will go a long way toward getting things back on track.
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