Top 10 States With Lowest Foreclosure Rate In 2007
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With the media focusing on the high rate of foreclosures in the country the people of these state must be wondering what every one is talking about. With rates of less than 1 hundreth of a percent, South Dakota and Vermont must be confused.
Meanwhile 10 states have a foreclosure rate of 1 home in ever 500 in foreclosure, not even a blip on the radar screen. So maybe the issue is not in the ability of average homeowners to repay their mortgage but that speculators took a big bite out of an overbuilt market and now they are paying the price.
But that does not play well in the major media so it can not be the case.
Rank State Total % of Homes 1 South Dakota 24 0.007 2 Vermont 29 0.009 3 Maine 286 0.042 4 West Virginia 460 0.053 5 North Dakota 250 0.082 6 Mississippi 1,409 0.114 7 Wyoming 356 0.151 8 Hawaii 966 0.197 9 Kansas 2,434 0.203 10 Louisiana 3,968 0.204
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Comment by New homes sale in Georgia for on 30 January 2008:
Wow first I have seen of this list on the blogs and what a refreshing sign. Places where the “sky is not falling”.
We have alot to learn for this ARM problem and hopefully these states can help by carring this country through a hard time. Why were they so successful everyone should be asking and how can we achieve this also.
Pingback by Real Estate Roundup - Week 5 | eCommission Blog on 1 February 2008:
[...] Top 10 State With Lowest Foreclosure Rate In 2007 at The Real Estate Bloggers. I thought it was some interesting data. You can also find the top 10 states with the highest foreclosure rate in 2007. [...]