Foreclosure Statistics from various states
#1
Posted 03 November 2007 - 02:13 PM
#2
Posted 03 November 2007 - 02:26 PM
Foreclosures are up over 200% in a number of states, and 800-900-1000% in some. Scary. Look at this list of the rise in foreclosures over the last year, from Greg Weldon (www.weldononline.com).
Arizona up + 201.7%, Arkansas up + 254.2%, Connecticut up + 920.7%, Delaware up + 389.4%, Florida up + 130.6%, Iowa up + 180.5%, Maryland up + 491.0%, Massachusetts up + 1,127.7%, Minnesota up + 124.9%, Nevada up + 212.2%, Ohio up + 136.0%, Vermont up + 400.0%, Virginia up + 516.4%, Wisconsin up +155.6%, Georgia up +84.5%, Michigan up + 78.6%, New Jersey up + 56.7%, New York up + 66.7%, North Carolina up + 99.0%, North Dakota up + 85.7%, Tennessee up + 57.3%. And on and on.
A Congressional report suggests that over 2,000,000 homes financed by subprime loans will go into foreclosure in the next 18 months. This means that more and more of the mortgage-backed assets on the books of banks, CDOs, and SIVs are going to become losses.
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Snippet Credit: John Mauldin column
foreclosures in california is up 66% from this time last year and shows no signs of slowing. RE has a long way to go on the downside, imo. the price correction is just beginning.
ed rader
Edited by ed rader, 03 November 2007 - 02:27 PM.
#3
Posted 03 November 2007 - 03:59 PM
#4
Posted 03 November 2007 - 07:55 PM
#5
Posted 04 November 2007 - 09:59 AM
Mary Anne
That will be the day when I see a DECREASE in my property tax based on house
price declines. I wish George Bush was the assessor & taxing body in my county.
So long as we have a public school system to support the property tax has only one
way to go...UP! That is what happens when you have a monopoly with no competition.
The teacher's union will see to it that it stays that way.