Oregon Catches Up with the National Real Estate Market- and not in good way. KGW.com has an online story on foreclosures this morning from the AP:
WASHINGTON (AP) — Like
the rest of the U.S., Oregon saw home prices soar during the housing
bubble despite relatively stagnant wages.
Now it’s becoming apparent that many Oregonians bought places they couldn’t afford.
The foreclosure listing service RealtyTrac says Nevada, California,
Arizona and Florida had the nation’s top foreclosure rates in January.
But at No. 5 is Oregon, which is making its first appearance on
RealtyTrac’s monthly list of foreclosure hot spots.
Rounding out the top 10 were Illinois, Michigan, Georgia, Idaho and Ohio.