Here is a fascinating graphic from the Washington Post about where in the US, by County, foreclosures have taken place, color coded by percentage.
It is rather remarkable:

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click for larger graphic

Map courtesy of the Washington Post
Foreclosure data from CoreLogic | Cristina Rivero and Mary Kate Cannistra/The Washington Post

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And with this post, we add the category Foreclosures, rather than select Credit/Legal/Real Estate each time  . . .

Category: Foreclosures

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

24 Responses to “Foreclosure Nation”

  1. Petey Wheatstraw says:

    Florida’s rocket docket has left a skid mark on the nation’s drawers.

  2. Ramstone says:

    Long Island seceded in this map too.

  3. BennyProfane says:

    So, why is a “Cape Cod” still going for 400,000 in a so so town in New Jersey these days?

    ~~~

    BR: Proximity to higher wage professional jobs in NYC

  4. louis says:

    Sad Nation.

  5. rktbrkr says:

    If Florida looks bad now just wait and see how it looks with potential buyers frozen with fear and strategic defaulters throwing in the towel and hunkering down and dragging out the FC process.

    Fl’s quick, cheap & dirty solution to the FC backlog has knocked their entire RE mkt into a cocked hat. Impossible to undo the damage in the short term, maybe medium term too.

  6. rktbrkr says:

    Benny, Joisey is the antithesis of Florida, if you want to build anything east of the Garden state parkway you’re going to need a lot of money & patience. While Florida has never seen a development proposal it doesn’t like NJ has never seen a development proposal that doesn’t have impacts, even a single family home on a vacant lot comes with surprises and headaches for the buyer, thats why a 60 YO Cape in a so-so town is a half mill

  7. BennyProfane says:

    @rktbrkr

    So, you’re telling me that Joisey has a regulation based massive shortage of housing and and average income of, what, something like 200,000 to justify the pricing? And, let’s not forget the enormous property taxes that basically add an enormous amount to the monthly payment.

    No, Joisey is on the edge of the cliff, and, in a few years, you’re going to see that state as dark orange as Florida.

  8. Wuwei says:

    Somewhat misleading map. In the west there are a lot of huge counties that have practically no houses in them which account for a lot of white area. You see the same thing inland in Maine–nobody lives there so there are no foreclosures.

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    BR: Most of the West and Central Mid West are empty land. Look at the graphs that are rebalanced by population (Cartographs)

    See this as an example: 2008 Election results

  9. Niskyboy says:

    BR, just a suggestion. Your insights, knowledge and enthusiasm in covering Foreclosuregate are superb, and the topic is hugely important and newsworthy. However, I’m sure I don’t speak for myself only when I say I’ve reached a saturation point with regard to stories on the topic lately, here on your blog and elsewhere. Perhaps you can post on a few other topics, too. I realize this is an impertinent request, coming from someone who’s not even paying for this wonderful information in the first place, but perhaps other loyal readers feel the same way.

  10. Dennis the menace says:

    Dude works for Bof A

    Keep at it — this is just getting warmed up . . .

  11. ashpelham2 says:

    Niskyboy, all due respect when I say this…….I think when someone has their own blog, and writes about stuff that they feel is important, then that is their right to do so. This website is free to read and to post on. I dare say that Barry Ritholtz is going to write about anything he wants to. And we can like it or lump it. Again, I’m not trying to be a smarta55 here, just stating my understanding of blogging practicality….

  12. VennData says:

    I certainly wouldn’t want to sit on a plane with someone who is trying to avoid foreclosure on their house, just because the bank doesn’t have all the proper paperwork or whatever, who knows what they might do?

    – Juan Williams

    The homeowners caused the fraudclosure crisis

    – Bill O’Reilly

    I’ll tell you how caused the fraudclosure crisis.

    – Rick Sanchez

  13. VennData says:

    BR, with respect to the violation of the Constitutionally guaranteed right to private property, I think I speak for the rest of us, when I say, “Keep it Comin’ Love.”

    http://www.youtube.com/watch?v=0B2NUqBs3TQ

  14. Lyle says:

    I think the map should have choose grey for no data, it would have made clear the areas for which the data are to sparse to make much sense. Note of course that in these areas there is no shortage of land, perhaps a shortage of people who want to live there.

  15. beaufou says:

    Niskyboy,
    I think you’re wrong, I have shared the Big Picture articles with friends and family and they are more than interested in the topic.
    I am trying to redefine my broken chain of title with BoA and many people feel the same way.
    Call it a citizen bailout or free lunch, I call it payback.

  16. Estragon says:

    @Lyle,

    If I’m understanding the graphic correctly (“Percentage of total houses that are in foreclosure”), population density isn’t the issue. 10% is 10%, whether it’s the fraction of 1 million houses, or 10 million.

    The footnote reads “Data shown by metro area”, so presumably it’s a question of data not being available for rural areas, not that the population is too sparse for the data to make sense.

    To me, the graphic looks a lot like those of price increases and creative mortgages circa 2006, which is hardly surprising.

  17. AHodge says:

    Keep it up BR

    if nisky is bored in the not my problem way. repeat after me
    MORTGAGE PAPER IS BAD PAPER, asset backed is not hold to maturity
    its everybodys problem, its accounting stinks, its the biggest reason finance is broken, securitization is shut down. and we are desperately goosing the economy to offset.

    blogs are voluntary, do you read everyone of your emails?

  18. nucemgd says:

    “BennyProfane Says:

    October 21st, 2010 at 12:31 pm
    So, why is a “Cape Cod” still going for 400,000 in a so so town in New Jersey these days?

    ~~~

    BR: Proximity to higher wage professional jobs in NYC”

    bah…this area is so BLOATED with overpriced shitboxes it isn’t even funny. My bldg in Jersey City was offering condos for $150k off list price, they STILL aren’t moving!!!

    But they keep building and building…The prices are TOO high and will only go lower. For the past 2 years I’ve asked for and received 8% rental discounts from the guy who purchased a pre construction condo in 2006.

    Barry you live in LI…talk about housing bubble central…

  19. dsawy says:

    Some of the large areas in the west do indeed have people in them. Their population, however, has been rather static, and they haven’t had much of any economic bust in the last three years. Some of these counties actually enjoyed some fat incomes in 2007, due to ag commodity prices, and this year they’re on track to do so again. Other rural counties have mining as their economic base, and many of those counties have also done pretty well. eg, many of the rural counties along I-80 in Nevada have one or more large gold mines in them that employ very significant proportions of the local population. Eastern Wyoming and areas in Utah have large coal mines, etc.

    The only thing that should be marked off on the map as being “don’t consider foreclosure data for this geographic area” are:

    1. Military reservations (eg, Nellis AFB, Groome Lake, the NTS in Nye County, NV),

    2. National forests, BLM grounds and national monuments.

  20. rktbrkr says:

    Nisky,
    The blog topics are clearly identified, if foreclosure discussion doesn’t interest you then find something else. Maybe events aren’t moving fast enough to a climax to suit you – check back in a couple months.

  21. Lyle says:

    Re the white space, the Post was probably to lazy to do a full job. One could go to every courthouse and dig up the ratio, but the Post used the feds data. While admitedly the missing counties will not have a great effect on state rates, since the people that live there. It would be better to have indicated a unique color for no data. Agreed the rates are low (one county near me has 1 forclosure out of 2147 homes total). The equivalent Plot on NPR does allow one to go to a county and it tells you no data.

    I suspect that the missing counties due to low population would not affect the state rates much.

  22. jad714 says:

    Ahhh poor Florida. Drenched in brown. You guys should see it first hand…

    http://www.philstockworld.com

  23. deepdive says:

    How about if you super-impose the unemployment rates (and other such stats) with this graphic, what kind of co-relations do we get?

  24. chrisjlat says:

    Oh HELL NO!!! A Florida Mortgage company cut their teeth taking my home away from me in 2008. They pushed me into Short Selling my first home north of Houston. They said that it would look better then having a Foclosure on my credit record. That is a lie. Shorts Sales look just as bad on the record, and in my case, they actually sold the house for more then what it was valued at.
    Now we find the banks and mortgage companies holding onto the houses without trying to sell them waiting for prices to go up so they can dump them on the market. Previous home owners are locked out of ownership while a housing shortage is maintained by these banks. Please, please, free up these houses so that we can have a fair market and a chance to get into some of the homes the banks are holding hostage.