Apr 07, 2009
E unibus plurum
07 Apr 2009
Posted by Andrew Kantor
Inman has a story today that adds fuel to the fire we’ve been stoking: That this one country of ours — even this one state of ours — has a lot of different housing markets.
On one end of the spectrum (the end driving the foreclosure crisis), you have Arizona, California, Florida, and Nevada, where people are reminded "Last one out please turn off the lights."
On the other end…
With one foreclosure filing for every 60,062 households, Nebraska had the lowest foreclosure rate in the nation in February, followed by Vermont, which posted one foreclosure filing for every 28,312 households, according to RealtyTrac, a foreclosure data company (see Inman News).
Naturally. Who would ever want to leave Nebraska?
The point, of course, is that sometimes talking about averages and medians makes sense, and other times it simply casts a shadow: A handful of states and regions has skewed the perception of the housing market, driving prices down all over.