I periodically check the website:
for foreclosure information for areas familiar to me. Where I’ve lived, where am now, where I might live in the future. The numbers are numbing after awhile.
I currently live in a town of 9,500 and out of those roughly 4000 homes, 45 are in some stage of foreclosure. Probably not too far from historic norms for this area.
When I check the town where I grew up (you can check according to zip code, etc), the number is 998. The estimated population of my hometown is 9844. The populations for where I live now and where I grew up are remarkably close, but the foreclosure statistics couldn’t be more different. The area where I live now has been in a 50 year freefall of plant closures and eroding community spirit. The people who’ve hung on all these years have had to ride continuous waves of downright depressed circumstances. Yet, the foreclosure rate is 1/20th of my hometown. What gives?
McMansions. Inflated property values. People living well beyong their means. People stretching to live in an area with low crime and great schools.
As our times drastically change, which area is better suited to survive the inevitable tumult?
How are the numbers for where you live? How is this going to change our lives? Or will it?