New York? With more lender owner - as opposed to just in foreclsoure homes - than... Los Angeles? Hell, according to the Wall Street Journal - the greater New York area is in worse shape than even San Bernardino Riverside - both in absolute numbers AND in percentage of homes owned by lenders!
Los Angeles - Long Beach-Glendale - .6%
Riverside-San Bernardino-Ontario - 1.1%
New York-White Plains-Wayne - 1.2%
And now for the really bizarre stats. Granted Detroit is almost at the bottom (with the average sale price now at - but look what city city ties Detorit (with the average Detroit home now selling for... $22,000 - and I'll have frie with mine) - and look what city has both the most lender owned homes AND the highest rate of lender owned homes in the nation:
Detroit-Livonia-Dearborn - 2.4%
Denver-Aurora - 2.4%
And... the biggest loser is...
Chicago- Naperville-Joliet - 2.5%
Chicago has almost as many foreclosed upon homes than the next runner-up.... Atlanta. Yes, Chicago has 46,000 lender homes while LA has only 11,000 and Riverside also only 11,000 - over twice as many as both areas put together.
And the lowest foreclosure rate - by far - of any of the cities on the chart is... Los Angeles!
Wednesday, March 26, 2008
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