More than 300,000 foreclosures in the U.S. in October

The procedures for entering real estate in the United States have involved 332,292 cases in the month of October, is 19 percent higher than last year in the same period, reported Thursday the American press.

The housing market has been hit hard by unemployment at around 10.2 pc, ever since 1983, exposing about 385 households in default of payment of the mortgage and therefore the seizure of property.

"The problem persists even with seizures result in lower prices on the real estate market," warned Stephen Miller, Chairman of the Department of Economics at the University of Nevada at Las Vegas, quoted by Bloomberg.com, noting that it is now know the extent of inventories before the banks are preparing to put on the market.

No fewer than seven million of real estate could be seized by the agencies and loans placed on the market auctions, reads a report prepared by the firm Amherst Securities.