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Housing Crisis Numbers

April 15th, 2008 | by Papamoka |

Browsing through the Worcester Sunday Telegram I came across some interesting numbers on how the home foreclosure crisis is effecting Worcester County. Every week the paper lists all property transactions and from whom to whom. This is just a sampling of some of the real estate transactions in this little corner of Massachusetts so it had me wondering how bad things really are across the nation?

There was a total of 207 transactions and of those 84 were listed as a bank transfer. That works out to 40.57% of possible foreclosures for the entire county. Then I looked at the transactions by city and town and the probability of predatory lending sneaks out.

Fitchburg 5 transactions 4 for the banks or 80%
Gardner 3 transactions 3 for the banks or 100%
Grafton 4 transactions 2 for the banks or 50%
Marlboro 7 transactions 4 for the banks or 57.14%
Milford 8 transactions 4 for the banks or 50%
Oxford 4 transactions 2 for the banks or 50%
Ware 2 transactions 2 for the banks or 100%
Winchendon 4 transactions 4 for the banks or 100%
Worcester 45 transactions 33 for the banks or 73.3%

Just some numbers to think about. Have a nice day…

Papamoka

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  1. 3 Responses to “Housing Crisis Numbers”

  2. By Chell on Apr 15, 2008 | Reply

    It’s so sad to hear how this crisis (swindling is a better word for it) is affecting people nationwide and now worldwide. The big, heartbreaking punch is when we see our own communities packing up. It’s being presented more and more often in the news now as just numbers, without a human face. Maybe to make it more tolerable?

  3. By Dusty on Apr 15, 2008 | Reply

    Chell, I think you are right..it is to keep it tolerable, so people do not get all upset and worked up about it..which we should since our government thinks it’s quite alright to bail out the banks but not the people affected by this.

  4. By Matthew O'Keefe on Apr 16, 2008 | Reply

    I just found it ironic that the MSM and the government is telling people that less than 4% of all mortgages nationwide are involved. How many banks are in dire straights and losing billions per quarter? Those numbers don’t work when you have week after week of these kind of possible foreclosure numbers. Statistical probabilities just do not add up.

    Somebody is doing the Bush ADHD thingy and showing a shiney object over here while things at home are going down the toilet!

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