Although the housing market is showing signs of recovery, other indicators show the foreclosure crisis is getting worse. In a September interview with U.S. News, Austan Goolsbee, the former chairman of the Council of Economic Advisers, said, "I think there's a lot wrong in the housing market. If Fannie and Freddie would start enabling people to rent out the vacant homes, that would also help."
Some foreclosure facts:
--The mortgage loans which are currently under the foreclosure process, is amounting to almost $45 billion (that is mainly in terms with negative equity)