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Foreclosures bad, not that bad(in RI, anyway)

I was surprised by this article. Yes, the foreclosure filings in the Providence/New Bedford area climbed by 295% but are still only 1 in every 549 households compared to Oakland, CA which is 1 in 71. Holy smokes, this could be much worse. Sometimes, you need the big picture to give perspective on your situation.

http://money.cnn.com/2007/11/13/real_estate/no_abatement_in_foreclosures/index.htm?postversion=2007111910

Posted by Alayna Berek on 11/29/2007 04:29 PM

Comments (3)

foreclosures in ri, foreclosure statistics

This post has been included in Rhode Island Information

3 Comments on Foreclosures bad, not that bad(in RI, anyway)

NOV

2007

Alayna, The bad thing about the foreclosures is - they are selling at rock bottom prices therefore lowering the price of other homes when they are appraised. I saw those stats too Cannot begin to imagine 1 in every 71, that will effect whole neighborhoods.

Glad Im in North Texas where the business is still great!

DEC

2007

I follow the foreclosure stats very carefully. One of the issues in our area in not the dragging down of prices these sales are viewed as distressed sales and are not impacting normal sale values. We do not rank as nicely int numbers game. We have over 14000 foreclosures. One of the real issues is RI has fewer people so the numbers impact differently. Nice post and welcome to AR Alayna.

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