Foreclosures are on the rise throughout the region as well as, throughout the United States. Will this effect home prices?

I think it will affect the Mortgage industry and I am sure there are changes coming such as looking closely at their lending habits. There has already been talk of the 100% mortgages coming to an end. The sub-prime lending is also under close scrutiny. The sub-prime market is those with less than perfect credit. Typically a person in this situation will pay a higher interest rate due to the lenders increased risk. It is a good way for someone with credit issues to be able to get into a home. The problem comes when there is little or no down payment. 

As far as home prices. Some areas with above average foreclosure rates may see prices affected, but areas with average and below foreclosure rates I don't think will see a decline. Time will tell however, as is always the case.

Typically Quincy and the South Shore does not see high foreclosure rates compared to other communities, but again, time will tell.