We’ve been hit with regular doses of news about the subprime mortgage problem and how foreclosures are on the rise. A picture is worth 1,000 words, right? If so, a new interactive map from the Star Tribune showing foreclosed properties in Hennepin County will be of interest to you.
North Minneapolis and it’s surrounding suburbs have plenty of representation, which won’t surprise anyone. What may surprise people is the number of foreclosures in wealthier parts of the county: southwest Minneapolis, Edina, Eden Prairie, etc. People in all economic sectors are having problems, and with more ARM’s due to reset later this year, I don’t think we’ll see the end of the foreclosure wave anytime soon.