Wednesday, February 13, 2008

Detroit Michigan, Land of Firsts

Yesterday it was first in the misery index. Today it's first in foreclosures. Isn't that great?
Some 4.9 percent of the households in the Detroit metro area were in some stage of foreclosure in 2007 -- 4.8 times the national average, according to the study being released Wednesday by mortgage research company RealtyTrac Inc.

Michigan has been in a protracted economic downturn and has led the nation in unemployment, a combination that has caused many homeowners to fall behind on mortgage payments.
We're also a serious contender for winner on the crime front (New Orleans just doesn't have the staying power). Thank goodness we have a liberal governor to make things better for us.

No comments: