Foreclosures

In more depressing economic news, it turns out the Charlotte-Gastonia-Concord area was one of the growth markets for foreclosure activity in 2010. As someone who owns two homes in Charlotte, and who would like to sell one of them and move to New York City, this caused me to add another loop to the noose that I’ve been tying.

Yes, in an article entitled “The 13 Major Cities Where Foreclosures Soared Last Year” published Tuesday, Charlotte (and the suburbs surrounding it) came in at #4. Here’s a lovely photo and a year-over-year growth statistic, just to twist the knife a little bit:

The Charlotte-Gastonia-Concord area had a year-over-year foreclosure activity increase of 37.27 percent in 2010, with a total of 14,732 property foreclosure filings for the year.

The source, if you’re curious, is the RealtyTrac’s Metro Foreclosure Rates report.

Of course this is disheartening, but as with most statistics, it’s just one way to look at it… Charlotte still only had foreclosures on approximately 2.02% of its housing units in 2010, which equates to about one out of every 50 housing units in the area, and brings the Charlotte area to #81 nationwide. Scary, until you compare it to Las Vegas with 1/9 housing units (10.88%) being foreclosed upon in 2010.

Hell, I should be more worried about the Palm Bay-Melbourne-Titusville area (essentially, Brevard County) where my first house is, and where my parents’ houses are. That area ranked #22 in the country, with 4.67% of homes (about one out of every 21 housing units) being foreclosed upon in 2010.

I swear there are times I just want to walk away from all of it and just be homeless on a beach somewhere… As long as there’s good cellphone reception, of course. (Free Wi-Fi signal would be a nice bonus.)

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