A visual look at foreclosures…

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.

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One Response to A visual look at foreclosures…

  1. TSmith says:

    I work for CurrentForeclosures.com, a foreclosures site and have seen a huge increase in the number of foreclosures in the past 7 months. I believe it is a combination of not only sub-prime and ARM mortgages, but also the high number of people who have gotten loans with interest rates at an all time low… in addition to the rapid depreciation in some areas and the difficulty some are experiencing in selling their homes.

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