PAR makes national news headlines for foreclosure study

The Pennsylvania Association of REALTORS® (PAR) made national news headlines in the last several weeks for a study on foreclosures it commissioned. Undertaken by Florida-based polling firm Strategic Guidance Systems (SGS), the research was funded by a $60,000 National Association of REALTORS® (NAR) Foreclosure Prevention and Response Grant.

Local and national news organizations including National Public Radio’s (NPR) All Things Considered, CBS’s Moneywatch, Associated Press (AP) and Bloomberg Business Week ran stories on the study results.  The story ran in more than 60 local newspapers, radio and television stations, industry blogs and online news sites.

The study was picked up by so many news organizations because the topic is so timely and important, said Thea Hocker, PAR director of marketing and communications. “It’s a testament to PAR that our research is being covered by national media,” she said, adding, “The findings were important enough to warrant telling the story across the country.”

The research showed that job loss and unexpected medical bills topped the reasons contributing to home foreclosures in Pennsylvania. In the past, many blamed subprime lending as the primary culprit in foreclosures.

“This study is significant because it gives voice to those most affected by the foreclosure crisis. It represents a significant number of Pennsylvanians who have personally experienced foreclosure in some way,” said Joel Searby, SGS pollster.  SGS interviewed 500 people across the state who encountered home foreclosure in the past 12 months and another 500 people who live in neighborhoods where home losses were steep.