More Bad Housing News
August 17, 2010 Leave a comment
Housing problems continue unabated, which is bad news for the South Florida and Coral Gables economy.
In the average congressional district, serious mortgage delinquency rates – defined as borrowers more than three months behind on their payments – are 9.4 per cent, compared to 3.3 per cent at the time of the election in 2008, according to a study by Deutsche Bank.
The pain remains concentrated in states such as Florida, California and Nevada. More than one in five borrowers are at least three months overdue on their mortgage payments in 23 congressional districts – including 13 in Florida, six in California and two in Nevada.