Top 10 States for Foreclosures in August, 2007
Yesterday I published the top 10 worst foreclosure markets in July, today you get the numbers in August. I was not paying attention [ed. Coffee deficit] and put up the wrong month. It did work out as comparing the posts, you can see how quickly the foreclosure market is ramping up. The Feds reduction in the interest rates yesterday should take some pressure off the borrowers and lending institutions, but there still is a tidal wave going on.
Nevada jumped from 1 in 199 homes in foreclosure to 1 in 165. California went from 1 in 333 to 1 in 224. That is alot of foreclosures happening. Watch these numbers as they are the leading indicator right now in the housing and financial markets. As long as foreclosures keep increasing, pressure on the economy will keep up. Once the tide turns though, we should be looking at a very positive environment.
Top 10 States for Foreclosures in August, 2007
- Nevada 1 in 165 homes
- California 1 in 224 homes
- Florida 1 in 224 homes
- Georgia 1 in 271 homes
- Ohio 1 in 281 homes
- Michigan 1 in 288 homes
- Arizona 1 in 289 homes
- Colorado 1 in 312 homes
- Texas 1 in 532 homes
- Indiana 1 in 544 homes
Click here to for a Free Foreclosure search in your area.
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Comment by Rhea on 19 September 2007:
Oh, yes, that turning tide is what I’m waiting for. So a person who is not vastly wealthy can spend a realistic amount of money on a house in America.