Woodland Park, Teller County, Colorado Credit and Mortgage Deficiency Rates
My fellow Active Rainer, Dean Moss from Chicago, posted a very interesting piece to his blog today. In fact, I found it so interesting that I decided, with his permission, to share it here, (the link to his informative post is below), and on Localism.com.
Very interesting to me is the NY Fed's Interactive Map , which gives credit and mortgage deficiency rate percentages for counties all over the country.
This is what it says for Teller County:
Credit Card deficiency rate is at 2.32%
Mortgage deficiency rate is at 2.55%
These numbers are an increase of 1.21% from last quarter.
The mortgage deficiency rate in El Paso County is 2.02%, in Pueblo 3.06%, and Denver County is at 3.73%. The highest in the state is Adams County at 4.53%. Park County is one of the lowest at .07%.
As Dean states, mortgage delinquency rates are up in 73% of counties across the nation, and if that's not bad enough, consumer credit card delinquency rates are up about as much.
Colorado's Department of Labor and Employment reports the unemployment rate for Colorado at 5.2%, up from 4% last year, with the national average at 6.1%. The Labor Department announced earlier this month that U.S. employers cut another 159,000 jobs in September, bringing the loss up to about 728,000 this year, and the total for the quarter to 287,142. In Colorado there are 142,194 unemployed workers as of September 2008, up 40,000 so far from last year.
These are staggering numbers, and as so many of us are being adversely effected in so many ways by the economic downturn, we depend more and more on our credit cards to help carry us through - or worse, stay afloat. Dean's post has more insight into this, and the following is the link to his Blog:
CREDIT CARD DELINQUENCIES - The Next Bubble to Burst?
Thanks for your thought provoking and informational post, Dean.
Prudential Professional REALTORS, ASP REALTOR, Woodland Park Real Estate, Woodland Park Colorado 80863 – Serving the City of Woodland Park, Teller County, Ute Pass, and Park County
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