In states with highest foreclosure rates.
The Northern Colorado Business Report is reporting that the most recent data released from California-based RealtyTrac puts Colorado in the fifth spot for most people losing their homes. Nevada, California, Florida and Arizona precede us.
In January, 6,833 properties went into foreclosure in Colorado. This was a nine percent increase over December, and forty percent increase over January 2007. The national foreclosure trend is still climbing as well.
But the NCBR does glean some good news from the report. Nationally, the rise was only nine percent between Dec. 2007 and Jan. 2008. Last year, the same period saw an increase over double that at nineteen percent. So there appears to be a slowing down at least. Eventually, it'll reach a zero percent increase when the banks own all the houses.
Now, when Bush sends out the $600 check to everyone in May, we can all get caught up, and this economic nightmare will be over. That's if we don't blow the tax rebate on a Wii or beer. Or there's always the option of making that $600 turn into $1,200 in Blackhawk. Great idea, right?