Where the Foreclosed Homes Are
California, Arizona, Nevada and Florida have recently stabilized, though foreclosure and bankruptcy rates have held steady. These four sunbelt states were hit harde by the sub-prime mortgage fallout. Some economists are describing the current situation as a recovery, though it has been a slow recovery.
While number of foreclosed homes is still rising in some states. With the country still wavering precariously between recession and recovery, foreclosed houses still abound. The market has yet to fully recover, if in fact it has already bottomed out.