The foreclosure numbers are out for November, 2008 and they are not as ugly as one would have thought listening to the media. California is getting better raising it’s foreclosure rate from 1 in 130 homes in August to 1 in 218 homes in November. With all of the government inducements to get behind on ones mortgages this is a surprising development.
Nevada, Florida, and Arizona lead the way. The speculation and overbuilding in these markets is still taking it’s toll. New additions to the the western states of Utah and Idaho, previously not even on the list and thought immune to the crisis.
Top 10 Worst States For Foreclosures in November, 2008
Rank State Total 1 in XX/Homes --------------------------------------------- 1 Nevada 13962 1 in 76 2 Florida 49190 1 in 173 3 Arizona 13136 1 in 198 4 California 60491 1 in 218 5 Michigan 14594 1 in 309 6 Georgia 10003 1 in 387 7 Ohio 12883 1 in 392 8 Colorado 5327 1 in 393 9 Utah 2003 1 in 450 10 Idaho 1284 1 in 479
via RealtyTrac
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it is amazing the foreclosure rate. I read earlier today that credit suise was estimating 1 in 10 people will be in foreclosure