Discuss Detroit » Archives - Beginning January 2006 » Metro area 6th in foreclosures « Previous Next »
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Jams
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Username: Jams

Post Number: 3370
Registered: 10-2003
Posted From: 68.79.164.199
Posted on Tuesday, May 23, 2006 - 7:40 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)
Maybe one reason for the drop in new housing starts in the region.

quote:

One out of 120 Metro Detroit homes was in foreclosure in the first quarter of 2006 because their owners fell behind on payments, according to the 2006 U.S. Metropolitan Foreclosure Market Report, which ranked the nation's 100 metropolitan areas.



http://www.detnews.com/apps/pb cs.dll/article?AID=/20060523/B IZ/605230324
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The_nerd
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Username: The_nerd

Post Number: 306
Registered: 12-2003
Posted From: 68.9.44.96
Posted on Tuesday, May 23, 2006 - 1:29 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)
I'm suprised that Indy and Atlanta rank higher than us. It seems like everytime we turn around the News points to those two cities as examples of economic progress, yet their forclosure rate is MUCH HIGHER than poor, blue-collar, hyper-unionized Detroit.

I would hate to be in those cities when they do see a serious regional recession.

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