Retire Soon
Full time employment: Posting here.
- Joined
- Nov 23, 2005
- Messages
- 655
An article appeared in our hometown newspaper today that was originally published in the Washington Post. The heading was, "Wall Street is Wondering: Will foreclosures Spread?
As of today, here are the states with the highest percentage of subprime loans that are now in foreclosure, according to the Washington Post:
Ohio 11%
Michigan 9.5%
Indiana 9.3%
Iowa 8.9%
Mississippi 7.3 %
Some other states that that were higher than 7%, but the exact percentage was not given were: Kentucky, Minnesota, Wisconsin, and Louisana. The average percentage of subprime loans that are now in foreclosure across the whole U.S. is 4.5%.
Is this only the tip of the iceberg and could this problem eventually worsen the downturn in the housing market and cause a recession?
As of today, here are the states with the highest percentage of subprime loans that are now in foreclosure, according to the Washington Post:
Ohio 11%
Michigan 9.5%
Indiana 9.3%
Iowa 8.9%
Mississippi 7.3 %
Some other states that that were higher than 7%, but the exact percentage was not given were: Kentucky, Minnesota, Wisconsin, and Louisana. The average percentage of subprime loans that are now in foreclosure across the whole U.S. is 4.5%.
Is this only the tip of the iceberg and could this problem eventually worsen the downturn in the housing market and cause a recession?