When local folks read the national news about their declining real estate sales, they automatically assume what they read also applies to our own Baton Rouge market as well. I remember, several months ago, a friend of mine (having read articles in national magazines on the softening real estate market) hinted at his fear that we were on the verge of seeing a lot of foreclosures soon hitting the Baton Rouge market. Well, how is Louisiana faring in the number of foreclosures compared with the rest of the nation? Are thin
gs just as shaky here as they are in other regions which just over a year ago were HOT real estate markets?
Not at all! At least not when you consider the list of "hot" foreclosure markets in the U.S. In fact, not only is Baton Rouge holding its own against growing foreclosures nationwide, but the entire state of Louisiana is still going strong, thank you. The "Baton Rouge Business Report" reports it this way:
CNNMoney is out with a list of the 500 ZIP codes where the most U.S. foreclosures have come from during the current housing bust. Nearly 28% have come from California, according to the survey by RealtyTrac, and Florida was a distant second. There were 72 foreclosures in Florida during a three-month period that ended in the middle of this month. The hardest hit zip code was 44105, in a poor section of Cleveland, where there were 783 foreclosure filings. No Louisiana ZIP code was found on the list, which was dominated by rustbelt cities hurting from manufacturing downturns and sunbelt cities where home prices skyrocketed over the past few years.
Check out the complete list here.
gs just as shaky here as they are in other regions which just over a year ago were HOT real estate markets?Not at all! At least not when you consider the list of "hot" foreclosure markets in the U.S. In fact, not only is Baton Rouge holding its own against growing foreclosures nationwide, but the entire state of Louisiana is still going strong, thank you. The "Baton Rouge Business Report" reports it this way:
CNNMoney is out with a list of the 500 ZIP codes where the most U.S. foreclosures have come from during the current housing bust. Nearly 28% have come from California, according to the survey by RealtyTrac, and Florida was a distant second. There were 72 foreclosures in Florida during a three-month period that ended in the middle of this month. The hardest hit zip code was 44105, in a poor section of Cleveland, where there were 783 foreclosure filings. No Louisiana ZIP code was found on the list, which was dominated by rustbelt cities hurting from manufacturing downturns and sunbelt cities where home prices skyrocketed over the past few years.
Check out the complete list here.
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