Foreclosures Concentrated in Certain Areas

A report by RealtyTrac shows that most of the 1.5 million foreclosures in 2008 were focused in a 35 counties. These locales represent about 1 percent of all the counties and are clustered in Michigan, Ohio, Southern California, Nevada, Arizona, South Florida and Washington, D.C. One quarter of last year’s foreclosures happened in just eight counties in Arizona, California, Florida and Nevada, places where the market boomed and prices skyrocketed. About 20 percent of U.S. households live in these key counties, but they account for more than 50 percent of the foreclosures last year.

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