Some earlier posts here used home foreclosures as an indicator urban decline and economic stress in Dayton and parts of Kettering. That information was based on data collected in 2005 or 2006.
It turns out the social activist group ACORN has done more recent research on this for larger Ohio countys. For Montgomery County the foreclosure rate has really jumped over the course of a year. These charts from the ACORN report shows a one month comparison and detail for the top zips:
ACORN maps out the rates by zip code, showing the geography of the highest number of foreclosures. Ive added some labels and and also show the top five foreclosure areas, which are all in or next to Dayton, including Dowtown and the Oregon district.
It should be noted that Huber Heights is the suburb with the highest forclosures. That something was awry in Huber was evident by driving through the older parts of the suburb this past spring, noticing the vacant houses with uncut grass and those "cut your grass" signs Huber Heights government puts on the yards.
A check in at the County Auditors property record database does show a number of units owned by banks in Huber Heights, probably foreclosed units. There are also a number owned by investors or absentee owners, which might indicate this progression in Huber Heights (and elsewhere in Montgomery County):
ownership--->foreclosure--->bank--->investor--->rental
Sunday, October 21, 2007
The growing foreclosure numbers in Dayton
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2 comments:
The subprime implosion numbers are is just beginning to be felt. Working in Huber...I just don't know what the next few months will hold.
Those facing foreclosure should contact their lenders and ask to speak with the Loss Mitigation Department. Be pro-active and face the reality of your situation. It won't just "go away"!... ...never before will you have seen the months click by as fast as they do when you're in foreclosure.
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