Title Insurance Firms Going Down
21 April 2008
As expected, even the title insurers are now getting to feel the crunch the sub-prime lending market left and the after-taste is sour for as less and less houses are sold, they also lose the ability or market to offer their products and services. Last year, the five companies who hold 90% of the title insurance market posted losses at around 12% and that was just as the flames were getting hot. The flame then has now become a wildfire and further losses that could go as much as 20% is expected this year making it worse for these companies. Losses in the millions have been reported as first quarter profit results are posted and the outlook does not look good. The real estates industry is feeling the strain and common Americans are too, selling off non-necessities, renting, and more are some of the trends being observed as the economy slips deeper into a state of depression.
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