Posted on 10/28/2009 1:19:58 AM PDT by TigerLikesRooster
High Foreclosure Rates Spread into New Metro Areas
Published: Wednesday, 28 Oct 2009 | 1:23 AM ET
By: Joseph Pisani
CNBC News Associate
It comes as no surprise that metro areas like Las Vegas, Nev. and Fort Myers, Fla. had the highest foreclosure rates in the country—they've been high for some time.
Foreclosed Home But high foreclosure rates are now moving into metro areas that previously avoided the problem, according to a new report from RealtyTrac, an online foreclosure marketplace.
“Rising unemployment and a new variety of mortgage resets continued to gradually shift the nation’s foreclosure epicenters in the third quarter away from the hot spots of the last two years and toward some metro areas that had avoided the brunt of the first foreclosure wave,” said James J. Saccacio the chief executive officer of RealtyTrac in a statement.
(Excerpt) Read more at cnbc.com ...
Ping!
More green shoots I see!
You bet! The business of making “Foreclosure For Sale” signs has never been better... See, the stimulus is working!
This is a BOGUS STORY!! Everyone knows the recession is over and things are improving. I saw it on TV.
So Pelosullini and The Seedy Reid will fine them for not buying health insurance.
yitbos
Whew! I was thinking the same thing. If it’s on TV, it must be true. I call BS with you! Everyone knows the stimulus is working, buncha racists flat- earthers. Obama has created or saved so many jobs it’s hard to count. Stop picking on the black man.
And besides, it’s all the fault of Bush!!!
The Obama “Hope & Change” bandwagon keeps rolling to a town near you.....
Wow! I looked at RealtyTrac (have to pay to get all the goodies, of course) and there are over 300 homes in forclosure in ONE small zipcode area near me.
That really brings it home, because we are pretty well insulated here with Big Government (city & state), teaching hospitals and a big University system keeping area people employed.
What an eye-opener.
“The Obama ‘Hope & Change’ bandwagon keeps rolling [over] a town near you...”
There. I fixed it for ya! :)
I thought the bailout was supposed to help people keep their homes!!! Does anyone know anybody that was able to keep their home because of the bailout money????? Just asking.
this is REALLY EASY to fix.....
No cap gains taxes
FAIRTAX
Taxpayer bailout. Assume most taxpayers have mortgages...at least to take advantage of the deduction. Cancel out all existing mortgages as of a certain date..and then eliminate the deduction. PRESTO!
A national representative body could take care of this by the end of November. We may need to convene one to get the job done as the existing one seems enmired in trying to decide whether or not to actually off the elderly.
That's because upstate New Yorkers are used to this. They were gutted out long ago by high taxes and unemployment and many fled to other states while they could.
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