Pictures are Worth a Thousand Words
March 2007 - USA Map of MORTGAGES 30+ days delinquent or in Foreclosure
March 2012 - USA Map of MORTGAGES 30+ days delinquent or in Foreclosure
Although distressed mortgages were said to have peaked in 2010, a majority of these delinquencies & foreclosures were isolated to just a few states. Now (March 2012) it is painfully obvious that large regions of the country are suffering according to a 38 page report * from the Federal Reserve Bank of St. Louis.
*Report by James Bullard, President & CEO, FRB-St. Louis
Picture of current recovery....courtesy of Calculated Risk Blog (HERE)
More "distress" to come as previously reported:
Drowning in Debt - Underwater Mortgages - Next Crisis
AND
USA - FORECLOSED and BLIGHTED
More Honest Housing Assessments:
Michael Olenick: Beware of Housing Market Cheerleading (
Robert Reich: Housing is the rotting core of US Recovery
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