Chance of Bankruptcy Higher in These States
The credit agencies have developed a new tool to determine the likelyhood a consumer having a bankruptcy in the future. They have been using this tool for the past few years without informing the consumers of it. Now it is starting to come out in public.
A July study by Experian is giving consumers some insight . The study ranked the states with the highest propensity to have consumers file for bankruptcy within the next year. The top five are:
- Texas
- Nevada
- New Mexico
- Louisiana
- Arizona
Economist Mark Lauritano of Global Insight in Massachusetts says from a broad economic view you can see the reasons why Texas would be at the top of the list.
“Based on studies we’ve done: It’s a relatively young state, people are moving to Texas, there’s a lot of immigration from south of the border, it has a below average income and it has a relatively low homeownership rate,” says Lauritano. Bank Rate .
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I like your analogy in this article. The real estate economy really is like a patient who you cannot ...
Real Estate is hyper-local. Every market is different. Phoenix has already hit bottom and is starting to recover. We have ...
Great to hear that the big boys
are predicting recovery sooner than
most think.
Thanks for the value! 
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I live in the Philippines and I am glad we are not on the lists... 
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