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Most Foreclosures Come From a Few Counties

Crisis affects former boom areas the most

By Nick McMaster, Newser Staff

Posted Mar 6, 2009 12:05 PM CST

(Newser) – The majority of US home foreclosures last year happened in just 35 counties, USA Today reports. Though the effects of the mortgage crisis have been felt nationwide, foreclosures have been from the start clustered in formerly booming areas in Florida, California, Nevada, Arizona, and around Washington DC. The 35 most-affected counties accounted for 1.5 million foreclosures last year—more than in the entire US in 2006.

But the foreclosure bust is actually even more centralized—USA Today identified eight counties that together were the source of one-fourth of 2008 foreclosures. “This crisis was triggered by foreclosures, and a lot of those were in a very small number of areas,” said a University of Virginia urban-studies professor.

This home in Levittown, NY, is facing foreclosure, according to the records of Nassau County. (AP Photo)

A for-sale sign lies on the ground in front of a boarded-up, vacant home in North Las Vegas, Nev., Feb. 18, 2009. (AP Photo)

A for sale sign stands outside a bank-owned home in North Las Vegas, Nev., Feb. 18, 2009. (AP Photo)

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COMMENTS

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Showing 3 of 3 comments

riffran

Mar 8, 2009 5:25 AM CDT

*humming* "The eyes of Texas are upon you".....I would love to see an unbiased reason as to why those counties in particular.....and what would the unadulterated demographics be...such as political affiliation, race, gender, married un married ect.education level, divorced, kids no kids......with no spin, just the truth...i wonder if we would find a homogenous mixture or concentrations of one demographic or another.......

muleskinner

Mar 6, 2009 9:37 PM CST

yea, and guess whos state a lot of it took place in---the guy, (presidential candidate) and still is running, who dosent know much about economics

BackAgain

Mar 6, 2009 2:22 AM CST

The many bail out the few. :(

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Most Foreclosures Come From a Few Counties

Crisis affects former boom areas the most

OTHER STORIES ON OUR RADAR

Florida • California • Las Vegas • default • housing crisis • mortgage defaults • foreclosures

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

$26B Mortgage Settlement a 'Modest' Help: Experts

Many struggling homeowners not covered in deal

Banks Ink $26B Deal to Help 2M Homeowners

49 states sign on to deal with nation's top 5 banks

Calif., NY May Sign On to Robo-Signing Settlement

Obama administration nearing deal for mortgage relief

Obama Looks to Keep Feds in Mortgage Biz

Prez reportedly rejects calls to pull gov't out of housing market

Couple Kills Selves Outside Church They Married In

Patricia and Bruce Wright died in an apparent suicide pact

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Most Foreclosures Come From a Few Counties

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OTHER STORIES ON OUR RADAR

Florida • California • Las Vegas • default • housing crisis • mortgage defaults • foreclosures

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

$26B Mortgage Settlement a 'Modest' Help: Experts

Many struggling homeowners not covered in deal

Banks Ink $26B Deal to Help 2M Homeowners

49 states sign on to deal with nation's top 5 banks

Calif., NY May Sign On to Robo-Signing Settlement

Obama administration nearing deal for mortgage relief

Obama Looks to Keep Feds in Mortgage Biz

Prez reportedly rejects calls to pull gov't out of housing market

Couple Kills Selves Outside Church They Married In

Patricia and Bruce Wright died in an apparent suicide pact

About Us

Site

Newser By Users

Community

Site Maps

Tools

More News

What is Newser?