Housing recovery boom, bust states
Viewed through a prism of mortgage delinquencies, foreclosures and new loan originations, some states stand out. Here's a look at the best and worst.
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Sweet and their taxes are great because they don't vote like selfish, lazy, entitled idiots!
anybody notice which states were "red" states recovering and which ones were "blue" states dragging the US down.
Sorry with the exception of New Hampshire which is on the edge but usually goes blue the republican run states lead the way.
Mabey the high taxes and excess business regulation actually do hinder job growth, i know because of the high taxes and expanded social programs illinoise (chicago) is a dying town. The unions have run everybody off and nobody (without lots of concessions) will ever set up there.
The housing is just the results of what we now call the Obama effect, the expansion of social programs and government interference into personal lives and business and the deterioration of society willing to become obligated to government.
Here is another indicator of how well a state will recover. Existing foreclosures, and pre foreclosures. Look...the banks cannot hold unto them forever. The banks WILL take a loss. You can make all the claims you want about the market recovering any day now, but you cannot overcome a certified appraisal. Ever notice how many listing say conventional loan or cash only....IT MEANS THE BANK WANTS WAY MORE THAN THE PROPERTY IS WORTH AND THEY ARE LOOKING FOR AN IDIOT. Real estate isn't like it used to be. The only "location, location, location" that matters anymore are multi million dollar properties that no one can afford. Everywhere else is surrounded by crime and hooligans (yet another side effect of the billionaire bonanza/exploding poor population type America).
I sort of give Florida a small break for one reason and one reason alone. Florida remains one of the top destinations for retired and aging Americans and Canadians. Hence, many just end up in Florida, then up and die...then the property goes into foreclosure because they didn't have a will. It happens all the time.
Even Florida must clear its foreclosure/preforeclosure backlog, though. Hey Chump, you are going to take a loss no matter what. The longer you wait, the lower the appraisal will be. Give it up. Wish upon a star? Give me a break. There will be no builder willing to put that kind of money into a property in the middle of what may as well be "the hood", either. Blame the city planners all you want or blame yourselves for artificially inflating the market in the first place.
Only after the books are clear will there be any real progress into the future. Who is holding up the show? The exact same business that created this mess, that's who.
THEY HAVE GOOD CREDIT, BECAUSE IN THOSE STATES, 9 MONTHS OF THE YEAR, YOU GO NOWHERE. WHEN YOU DO, THERE IS NOTHING TO SPEND MONEY ON.
I live in Delaware and it ranked near the bottom in this survey. However, my Dad lives near the beach in Sourthern Delaware and his property taxes are <400 a year. Combine that with no state sales tax and you would think this state would be booming. It does appear that most of the better states are in colder climates and they do have higher credit scores. However, as stated below there are a lot of other factors that need to be taken into consideration as well.
I would bet the job opportunities in the higher end states is probably better as well. I know North Dakota for sure and I bet some of the others as well.
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