Comments on: Minnnesota foreclosures up 75 percent in June, bank repossessions skyrocket

By: wabbit

wabbit — Fri, 11 Jul 2008 15:33:26 +0000

Yes, Molly, that's a very important stat. It's clearly not getting better, as you say.

By: mollypriesmeyer

mollypriesmeyer — Fri, 11 Jul 2008 14:52:04 +0000

..ooops, trigger post…

I meant to add: They're now ending up as REOs, which is a sign that things are likely to get worse before they get better.

By: mollypriesmeyer

mollypriesmeyer — Fri, 11 Jul 2008 14:50:21 +0000

Thanks, wabbit. And even more startling: That site hasn't been able to include data from all counties, If I remember correctly, they're still adding new counties to their database daily. What I found most compelling about the RealtyTrac report is that the majority of foreclosures in MN are now ending up as REOs,

By: wabbit

wabbit — Fri, 11 Jul 2008 14:29:44 +0000

A good site for detailed stats:
http://www.foreclosures.com/stats/

In the last 2.5 years, starting from the collapse of the housing bubble, nearly 1 in 20 US households has had a preforeclosure filing. In Minnesota it's closer to 1 in 100, but it is indeed accelerating here as it has everywhere.

This is reaching Great Depression levels pretty quickly.

By: wabbit

wabbit — Wed, 30 Nov -0001 00:00:00 +0000

Yes, Molly, that’s a very important stat. It’s clearly not getting better, as you say.

By: mollypriesmeyer

mollypriesmeyer — Wed, 30 Nov -0001 00:00:00 +0000

..ooops, trigger post…

I meant to add: They’re now ending up as REOs, which is a sign that things are likely to get worse before they get better.

By: mollypriesmeyer

mollypriesmeyer — Wed, 30 Nov -0001 00:00:00 +0000

Thanks, wabbit. And even more startling: That site hasn’t been able to include data from all counties, If I remember correctly, they’re still adding new counties to their database daily. What I found most compelling about the RealtyTrac report is that the majority of foreclosures in MN are now ending up as REOs,

By: wabbit

wabbit — Wed, 30 Nov -0001 00:00:00 +0000

A good site for detailed stats:
http://www.foreclosures.com/stats/

In the last 2.5 years, starting from the collapse of the housing bubble, nearly 1 in 20 US households has had a preforeclosure filing. In Minnesota it’s closer to 1 in 100, but it is indeed accelerating here as it has everywhere.

This is reaching Great Depression levels pretty quickly.