Foreclosure Increases

by James & Miel on December 8, 2009 · 0 comments

Kiplinger had an interesting graphic the other day that showed how much foreclosures have increased in 2007 and 2008 on a per state level (“The Rise of Foreclosure Filings“). The graph shows the effect of geography on housing, and there can be a pretty stark difference in the rate of foreclosure filings from states right next to each other. Some interesting observations:

  • One state, Nebraska, actually had a negative increase in the rate of foreclosure filings (-12.27%). Off the top of my head, I don’t have much of an idea for why Nebraska would experience a decrease while the rest of the country featured sharp increases.
  • The highest increase in the rate of foreclosure filings? South Dakota, coming in at 1,575%. Wow.
  • 21 states had an increase of over 100%.
  • The highest hit regions appear to be the East Coast and West Coast, which isn’t all that surprising considering those areas are generally considered the most expensive in the nation.

I’ve seen a lot of graphs during the recession that describe data similar, but this one really drove the point home, and I thought it was really interesting.

-Michael

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