"I am not an advocate for frequent changes in laws and constitutions. But laws and institutions must go hand in hand with the progress of the human mind. As that becomes more developed, more enlightened, as new discoveries are made, new truths discovered and manners and opinions change, with the change of circumstances, institutions must advance also to keep pace with the times. We might as well require a man to wear still the coat which fitted him when a boy as civilized society to remain ever under the regimen of their barbarous ancestors." - Thomas Jefferson (appears in the Jefferson Memorial)

Rolling in foreclosures

foreclosure map

foreclosure map/RealtyTrac

The real estate market has been taken its long-predicted (here, among other places) hit, and foreclosures are rising fast. You see the headlines all over; but how do various areas compare?

A national firm, RealtyTrac (which is in the business of sales of foreclosed and distressed property), has answers including a national by-county map visible here. The areas where foreclosure rates are lowest are some of the more rural and least growth-prone around the Northwest, notably much of eastern Oregon and central Idaho

Remarkably, the three Northwest states are bunched together among the nation’s 50: Idaho ranks 20th, Washington 21st, Oregon 22nd.

Could be, though, that the trend line may push them apart. The one-year increase rates in foreclosures were quite different: Oregon 12.2% higher, Washington 27.9%, and Idaho 140.5% (though there is a note that rate might be somewhat inflated because of measurement changes).

See also a Seattle Times piece on this, noting the state’s high increase was in Pierce County.

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