More Than Half of Last Year’s Foreclosures Occurred In Only 35 Counties
Posted by TheHomeCart.com on Tuesday, March 10th, 2009 at 5:09pm.Thirty-five counties representing about 20 percent of U.S. households accounted for more than 50 percent of last year’s foreclosures, reports USA Today writer Brad Heath. And about 25 percent of them took place in eight counties in Arizona, California, Florida and Nevada.
Spread over a dozen states, the 35 counties had more than 1.5 million foreclosure actions last year. That number is more than the foreclosures recorded in the entire country in 2006.
In contrast, in more than 650 other counties – about a fifth of the nation – the number of foreclosure actions has actually dropped in the last two years.
Most of the counties leading in foreclosures are clustered in areas, such as Southern California and South Florida, where home values rose dramatically in the first half of the decade and then began to crumble.
USA Today also reported ...
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