Stumbled upon this neat map on CNN. Here's a link to the original article.
As you can see, Washington state looks like it's fairing much better than the rest of the country (Florida and Nevada look particularly troubled).
The open question is whether Washington is better off due to fundamentals and relatively less frothy prices a few years ago or as many have suggested, is Washington simply lagging the rest of the country and will have its comeuppance like the rest of the country in a year or two?
Useful tool: http://www.realquest.com/rq/default.aspx?txtSearchAddr=seattle#
If you have a moment, you might consult the apostrophe rules for its/it’s.
Thanks Pedant. Its hard to keep track of those apostrophe rules 😉
According to my wife, who’s an English teacher, the usage of (it’s) is correct as this is a contraction form for (it is). The possessive form is (its’).
Could anyone provide information on how to look up what units have closed at Olive8?
Pedant, Wendy’s usages of the words “its” and “it’s” were absolutely correct. Perhaps YOU should consult the apostrophe rule. Seriously, it’s your elementary needling of others that’s keeping your mind from its potential to comprehend the lively debate she’s proposing.
Sorry for the confusion guys. I originally had it wrong in the last sentence of my post and after Pedant made his comment, I made the correction.
Nevertheless, I agree with MD that the more interesting discussion might be about whether Washington’s relatively low foreclosure rate means we’re ahead of the game or simply that things here are just lagging the rest of the country.
Curious to hear what folks think.
IMO, we will certainly see the foreclosure rate increase to all-time highs for our state. I think we’ll see this increase in foreclosures hitting within the next 3 to 6 months, creating a sudden spike on the charts due to the alt-a and option 5-year option arms resetting. Yes, we lag the national trend, and it isn’t any big secret – it’s just the way it’s always been. However, I do not believe our state will not have as high of a foreclosure rate as the national average.
If you look at RealtyTrac’s foreclosure map by county, the reason that Washington is doing well is that foreclosure rates are generally low to medium in eastern Washington (as opposed to California, where foreclosure rates are high in virtually every county). If you look at the the counties around Puget Sound up to Whatcom County, foreclosure rates are medium to high by national standards (foreclosures are also high in Clark and Cowlitz counties on the Oregon border).