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It is interesting that there are more foreclosures in the mid-West than elsewhere. I guess that there was more predatory lending there and too many folks who got themselves into trouble. Housing values are declining more quickly in parts of California, Las Vegas, DC and Florida. You would expect to see higher foreclosure rates there.

 

Submitted: Jun 20, 2007    Views: 380    Comments: 1    Likes: 6   


View Article: http://money.cnn.com/2007/06/18/real_estate/foreclosures_hardest_hi...


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Comments Received:

PhilR
PhilR

My sister lives in Ohio. The problem there is that they keep on building new houses so that old houses don't sell. People there like new. Prices are falling and so a buyer who gets in trouble can't unload their property. The only option is foreclosure.

Posted: Jun 20, 2007

Author/Submitter Response:

Overbuilding is going on everywhere. Developers don't generally restrain themselves or look out for the broader housing market.



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