Off-Topic: Foreclosures NOT a national

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	Name:	MartiniMan -
	Subject:	Foreclosures NOT a national
	Date:	2/23/2009 3:10:57 PM

Virginia is 15th highest in foreclosures and is above the national average but not by much. I suspect that is more related to the creative financing and ninja loans that allowed people to get into homes they really couldn't afford, especially when the teasers expired and the market values dropped so much that they could not refinance.

Nevada is number one because of the housing bubble that occurred there with both speculators and the influx of Hispanics. Unfortunately many of them are involved in seasonal work or based much of their income on the housing market. When that dried up in overbuilt areas they were disproportionately impacted with a loss of income.

Its not to say that the number of foreclosures aren't up across the board, its just that this doesn't really represent a national crisis. In most states we are seeing an impact consistent with previous recessions. In those four states it is much worse.

Other messages in this thread:

View Entire Thread

Foreclosures NOT a national - MartiniMan - 2/23/2009 10:06:55 AM

Foreclosures NOT a national - Talullahhound - 2/23/2009 11:08:36 AM

Foreclosures NOT a national - MartiniMan - 2/23/2009 3:10:57 PM

Foreclosures NOT a national - SeaRayMan - 2/24/2009 6:24:56 AM

Foreclosures NOT a national - MartiniMan - 2/24/2009 9:20:22 AM

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