This headline recently came across my inbox recently, Top 10 States With The Worst Foreclosure Rate.
That seemed worth a click, so I did.
Here are the ten states with the highest foreclosure rates.
New Jersey 1 in 1,006 Housing Units in Foreclosure
Delaware 1 in 1,008 Housing Units in Foreclosure
Maryland 1 in 1,193 Housing Units in Foreclosure
Florida 1 in 1,365 Housing Units in Foreclosure
Illinois 1 in 1,465 Housing Units in Foreclosure
South Carolina 1 in 1,615 Housing Units in Foreclosure
Connecticut 1 in 1,801 Housing Units in Foreclosure
Ohio 1 in 1,918 Housing Units in Foreclosure
Nevada 1 in 2,041 Housing Units in Foreclosure
Pennsylvania 1 in 2,205 Housing Units in Foreclosure
At first glance, these rates may seem pretty high. Are they? Are they really that bad? To check, I went back and looked at the data for the same states from 10 years ago at the height of the bursting real estate bubble. The picture that emerges shows that words such as “worst” are relative.
New Jersey 1 in 55 Housing Units in Foreclosure
Delaware 1 in 1,512 Housing Units in Foreclosure
Maryland 1 in 343 Housing Units in Foreclosure
Florida 1 in 17 Housing Units in Foreclosure……1 in 17!
Illinois 1 in 401 Housing Units in Foreclosure
South Carolina 1 in 754 Housing Units in Foreclosure
Connecticut 1 in 593 Housing Units in Foreclosure
Ohio 1 in 50 Housing Units in Foreclosure
Nevada 1 in 10 Housing Units in Foreclosure……1 in 10!!!!
Pennsylvania 1 in 1,140 Housing Units in Foreclosure
So yes, these states are the ten worst right now. But it can definitely be much, much worse.
