The Wall Street Journal (4/14/06) story writes the highest regional rates of foreclosures are in the entire “East North Central” region of the country, which includes Indiana, Ohio, Michigan, Illinois and Wisconsin.
And what the states hit hardest by mortgage foreclosures have in common is relatively low home-price appreciation (compared with the national average) over the past few years, typically combined with below-trend job growth.
North County Jim, I had wanted to post this topic for a while, so our dialogue the other day was my inspiration. Only time will tell how bad this recession will be. I could be way off base…
