News

Foreclosure? I Barely Even Knew Her.

RealtyTrac, which publishes a database of foreclosure properties across the country (I know, sounds very sexy), yesterday released its list of cities in which folks are most likely to quit paying their mortgages, and Dallas didn't fare too well. Turns out when RealtyTrac's peeps poured over the books for the first quarter of '06, they discovered that among the country's largest 100 metro areas, Dallas is third on the list of having the highest foreclosure rates, behind Indianapolis and Atlanta. Out of every 99 households purchased in the Dallas area, one homeowner fails to make the payments--compared to, say, New Orleans, where it's one outta every 5,932 (c'mon, that cannot count, can it?). The national average is about one in every 358 households winds up in foreclosure. Hate to burst your real-estate bubble, but once more, we're medaling--it ain't the gold, but keep it up, Big D. You make us all proud. --Robert Wilonsky

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Robert Wilonsky
Contact: Robert Wilonsky