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Five states (Nevada, Florida, Arizona, California, and Michigan) accounted for over half of US foreclosures between 2008 and 2010, with an estimated 1 million Americans losing their homes by the end of 2010. Vermont, Wyoming, North Dakota, West Virginia, and Mississippi had the lowest foreclosure rates in 2010.
Despite foreclosure fears sparked by the 2008 US housing market crash, as of November 2010, more than half of foreclosures in the US have occurred in just five states. Nevada, Florida, Arizona, California and Michigan were the states that had the most foreclosures between 2008 and 2010. It was estimated that more than 1 million Americans will have lost their homes to foreclosures by the end of the 2010.
More foreclosure facts in the “Great Recession”:
One in 387 homes in the United States received foreclosure notices in 2010.
In 2009 and 2010, nearly 5 million Americans defaulted on their mortgages at a default rate not seen since the Great Depression.
The states that tended to do the best in foreclosures were Vermont, Wyoming, North Dakota, West Virginia and Mississippi, with only one in about 15,000 homes foreclosed in 2010.
