Wayback Wednesday… Point/Counterpoint on Foreclosures

Two years ago, I was looking at foreclosures.  There were several bad headlines, and I took a moment to look a little deeper.

Foreclosure filings skyrocket 65%

And then the less hyped statistic…

One home is 500 in some stage of the foreclosure process

That was then, this is now.  As I was researching this, I found some more recent numbers.  The story that they tell isn’t good.  Nationally, 1 in 138 homes is in the foreclosure process.  Of course, there are some states where things are looking up… and some others that are pretty ugly.

• Nevada “leads” the nation with 1 of every 33 homes in the foreclosure process…
• Vermont is at the other end of the scale… 1 of 5023 homes is being foreclosed or in the process.

Another thing that should be noted…  10 states are worse than the national average… 40 states are better than the national average. Nevada, Arizona, Florida, California, Utah, Michigan, Georgia (1 in 101 homes), Idaho, Illinois and Colorado.  If you aren’t in one of those states, you are doing better than average…  Nevada is getting better… Illinois is getting worse.

As bad as it is… and it is bad… we are still looking at around 1% here in GA.  Now, if we could get the jobless rate down, I think that we could get a solid recovery started for the housing sector.

Related articles by Zemanta

• Interesting article on where people are moving within the US… (lanebailey.com)
• Just when you thought it was safe: Foreclosures spike (money.cnn.com)
• Foreclosures down in January, but surge on way? (seattletimes.nwsource.com)
• Foreclosure rates up by smallest amount in 4 years (seattletimes.nwsource.com)
• January 2010: 6 States Account for Nearly 60% of National Total (metrodcliving.com)

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