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	Name:	MartiniMan -
	Subject:	Foreclosures NOT a national
	Date:	2/23/2009 10:06:55 AM

problem. Do you realize that half of all foreclosures are in only FOUR states?!?!? To listen to Obama/Reid/Pelosi you would think this is a national problem but it is not! It is a regional problem in states that have grown very quickly, have experienced significant overbuilding or have a high rate of hispanic influx contributing to a housing bubble with people of dubious long-term ability to repay. Those four states are California, Florida, Nevada and Arizona.

Only nine states have foreclosure rates above the long-term national average (11 per 5,000 households). That means that for 41 states there is no significant increase in foreclosures above the long-term national average. Also, there are eight states with a foreclosure rate of 1 or less in 5,000.

I had always wondered why in the midst of this alleged national crisis I had not seen the evidence of large numbers of foreclosures like I saw in Dallas in the mid-80s when oil prices collapsed. The reason is I don't live in one of those four states. I do live in Georgia which is one of the states with a foreclosure rate above the national average but again it is no crisis here either.

Other messages in this thread:

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Foreclosures NOT a national - MartiniMan - 2/23/2009 10:06:55 AM

Foreclosures NOT a national - Talullahhound - 2/23/2009 11:08:36 AM

Foreclosures NOT a national - MartiniMan - 2/23/2009 3:10:57 PM

Foreclosures NOT a national - SeaRayMan - 2/24/2009 6:24:56 AM

Foreclosures NOT a national - MartiniMan - 2/24/2009 9:20:22 AM

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