Foreclosures Only a Problem in Four States

Mark Perry has a nice picture which breaks down foreclosure percentages by state. As you can see, only California, Nevada, Florida, and Arizona have significant problems. Goes to show you that the problem is only in four states and how the media can overplay the problem



25 Responses to “Foreclosures Only a Problem in Four States”

  1. 1 O'King Kole March 3, 2009 at 8:59 AM

    Its horrible on how the media continues to create bigger problems than there really is. Furtherfore, there are pluses and minues in the article realating to how the states use as a percentage on a whole. The good side is that only 8 states are taking the hit, thus leaving 42 in pretty good shape. On the other hand, most of that states that are having big problems are all mainly on the west coast namely around California. Hopefully the values of the houses will go up soon to help the economy a bit more.

  2. 2 Brandon Ruegsegger Macro ECON (M,W,F) March 3, 2009 at 10:46 AM

    It’s ridiculous to say that this problem is being “exaggerated” in some way. One can try to look at the glass half full by saying that ONLY four states are having serious problems… or you can look at the situation realistically and realize that these states are four of the most important to the U.S. economy as a whole. When the heart fails, although it’s a small part of the body, the rest of the body goes with it..

  3. 3 woltmon March 3, 2009 at 2:19 PM

    Well i guess thats good to know, but California is one of the places where the cost of living is way up, and in order to keep forclosing from happining maby we should consider lowering the cost of living then maby the economy would do a bit better.

  4. 4 alan March 3, 2009 at 6:38 PM

    yes that shows one side to be true. but one has to also remember that in ca and the other three states, mainly looking at ca right now, we are one of the biggest and high costing states to live in. A lot of people can make and lose their living in this state, making it every easy to see the people having losing their homes.

  5. 5 Christi March 3, 2009 at 6:56 PM

    I am sure this coinsides with the market boom we had a few years back in these areas. Home sales sky-rocketed in these states, especially California, banks were making deals with interest only payments for five years, and now that fives years are up, people can no longer afford their mortgage. This along with the loss of jobs and strain on the economy overall and it’s no wonder the rest of the country isn’t in the same situation.

  6. 6 Tanisha Econ101/Tues March 3, 2009 at 7:10 PM

    This goes to show why you should do the “research” for yourself. We can barely trust our government. Why would we trust the media? Yes it can be informative. They may even fill you in on “juicy” information. But doesn’t “juicy” information come from gossip? Or, a source that may overexaggerate what really happen? I thought forclosures were happening all over the world! And now I find out that this problem is only in four states. That’s crazy! Guess I should have done some research…

  7. 7 Marilyn Monroe March 4, 2009 at 10:20 PM

    The media only gives people what they want to hear. And of course no one wants to listen to boring news so the media can overplay or exaggerate the situation. I thought the problem with foreclosures was a nationwide epidemic. But now I have came to the realization that only California, Nevada, Florida, and Arizona are the four states that have major problems with the increase of foreclosures.

  8. 8 Sherri Brown t/th Econ 101 March 4, 2009 at 10:22 PM

    it does look like from the map that only 4 states are in the deepest of this crisis but it doesnt show the states at are also losing houses even a few. It only shows the states in the deepest depression to have more of an effect on american people’s hope. the whole world must feel some affect of the depression that is happening whether its price rising for imports or even exports. media can not be trusted all their information is sometime influenced by others.

  9. 9 BeuWolf256 March 5, 2009 at 10:26 AM

    The media loves to play mind games, tweaking details and truths, making things sound worse than they really are; depending on the creadability of the news sources. California has the highest living costs, not too sure about the other three, but most likely economicly structurley the same. Don’t believe everything the media says; symbols are for the symbol minded.

  10. 10 Samantha Arnold March 6, 2009 at 10:28 AM

    The news seems to over exaggerate sometimes, but I think one of the reasons why california is in this picture is because the cost of living is so high everywhere in the state not just in certain parts but everywhere. So maybe if we lowered the cost of living then we wouldnt be having this problem as much.

  11. 11 Linda Villasenor March 8, 2009 at 12:14 PM

    wow! I thought that the foreclosure was everywhere all over the nation! The media should not do that because it scares all the people and it makes them not want to buy homes. The other states will suffer due to the wrong information being provided its residents will not invest in homes therefore the real estate will suffer in those states as well. But how can the media do that? can’t anyone say anything about it?

  12. 12 Tim Honeycutt March 8, 2009 at 2:59 PM

    Once again, another lie from the media. An ounce of controversey made into a pound. This is surprising to me, but it is not surprising that the media blew this out of proportion. It’s not just he high cost of living in California that is the cause for a bad housing market. Nevada is the worst off and their standard of living is below California. I don’t know when it will get better or what it will take to make it happen but it needs to happen soon. Atleast the majority of the country is doing well. Unfortunately, the largest state econonmy is not well off.

  13. 13 LK Economics March 8, 2009 at 8:56 PM

    Foreclosures in four states, that’s interesting. Great Information! I wonder if it was the same lending companies for the all four states. Sometimes an organization will represent a region being California, Arizona, and Nevada are so close. I am not sure about Florida. My question is why only these four states? Do these four states lower their standards for financing guidelines. Is it true some states allow certain lending institutions to conduct business and others they reject? We need to investigate a little further on this situation.

  14. 14 NicoleMB March 10, 2009 at 5:37 PM

    Although it seems only California, Nevada, Florida, and Arizona have significant problems, I think it’s safe to say that other states probably still do have a bigger problem with foreclosures than they did in the past. And it is interesting to see how far the problem of foreclosures has come in the media. That mixed with the fact that there are probably five or six foreclosed homes on my street alone make it seem like a crisis that must be global. But I still think national steps should be taken to try to repair the problem, even if it only has really become significant in these four states.

  15. 15 Houck24 March 15, 2009 at 3:43 PM

    Although the problem is more significant in 4 states, other states are having larger foreclosure problems than in the past. Also, California is one of the nations largest economies and the foreclosure rate in California is a prime example of the nations economic state. The media defiantly likes to spin things but I think that the foreclosures are real and whether its happening in every state or not, the whole country is feeling the effects of it

  16. 16 Santi Orona March 18, 2009 at 9:42 PM

    This is very interesting. The plague of foreclosure seems to be a constant lead story on news channels. Recently, there was a story on the city of Stockton here in California. I have a lot of family that live in that area, and I was worried they were all losing their homes. However, my family told me only a specific area of the city was in trouble. Apparently, the media only focused on that area when airing their lead story. This is similar to the facts displayed in this chart. The media sometimes makes it seem like foreclosure is consuming the United States, but in reality, foreclosure is only a problem in four states. Considering California has a high cost of living, it doesn’t surprise me it is on the list.

  17. 17 Gilberto Vazquez March 18, 2009 at 9:49 PM

    i Dont think its that the media is overhyping the problem because California has such a crucial role in the nations economy that if California isnt doing well then the whole country will take a hit in return. California is a hugely populated state that when we see foreclosure numbers for the country then they really hit the nation hard as a whole.

  18. 18 Keith C. March 19, 2009 at 10:03 AM

    Indeed, this is very interesting, you would have thought that the pattern of foreclosures would be evenly distributed across the map of the country, but apparently not. What I find is really interesting though, is that as far as I know, these states were the ones with the biggest growth “bubbles” over the past 5-10 years. California is and was well known for it’s huge housing market and economy in general, Naples, Fl had ranked second in growth in a Census 2000 report, Nevada had been experiencing enormous growth with Las Vegas being the fastest growing city in America, and relatives in Phoenix, AZ have been telling me about the enormous growth there over the past 5-10 years. It looks like these “bubbles” have popped and we are experiencing the consequences.

  19. 19 dionicio arechiga March 19, 2009 at 9:42 PM

    I think it was because everybody was braking the rules and if you didn’t do it then they would go to the person that could make it happen what they didn’t know was that in the long run they weren’t going to have control on their mortgage. I just think a lot of people got lied to just so the buyer and seller could be happy.

  20. 20 Leonardo Sanchez ECON 101 April 29, 2009 at 3:13 PM

    This is insane how graphics are changing our minds to think that California is a bad palce to live becuase its covered in red! No

    this may be 1/8 of the problem why we are in this low econmy because the media is affecting aour minds into thinking that

    California is a bad place to live that there is no profit. That isnt the case. I saw a television channel saying how the houses

    are doing better in the market. This gives us a chance to survive. Yes it does but we need to start with the media by putting real positive information out there!

  21. 21 Matthew Dimech Econ-101 May 5, 2009 at 9:31 PM

    You know, i can understand how the media over exagerates everything. This is nothing new at all. We all knew this. However, living in california, this is a huge problem. The media doesn’t overplay this now does it. It seems like 1 out of 4 houses in my town are being forclosed.

  22. 22 Pat Kolcum May 8, 2009 at 6:14 PM

    While there is without a doubt more foreclosures is these four states there, lets not forget that there is also a housing problem in the rest of the country. It seems one reason behind the larger numbers maybe due to a higher living cost in these states, and simply could be cause they have a greater housing price. Hopefully people can learn better financial management skills from our current economic state to avoid similar events in the future.

  23. 23 Gabriel Mayora (Macro-Theory SMC) May 13, 2009 at 4:23 PM

    Just because only 4 states have experienced serious foreclosures does not mean that the problem should not be overlooked. This author is looking at the fact that 4/50 states are experiencing foreclosures as a positive thing is ridiculous. California itself is one of the most advanced states when it comes to technology, environmental power, and populated states. It is crazy to ignore California’s state of businesses. Foreclosure mean that jobs are being lost and therefore unemployment increases which is horrible for our economy.

  24. 24 Jim Castilone May 14, 2009 at 3:11 PM

    I never realized how much the media blows things out of proportion. While it is a huge deal that California’s housing market is in the dumps, I thought the rest of the country was in big trouble too. I’m glad to see that this isnt the case though!

  25. 25 T May 25, 2009 at 11:20 PM

    I dought that this map is justified the states in red are most likey the highest but home foreclosure is a problem nation wide. unless people from other states were trying to migrate to those states in red and could not make it.

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