Stacking Up 2007 Metro Foreclosure Rates
It was the usual suspects topping the 2007 MSA Foreclosure Rate Rankings released by RealtyTrac today. Detroit, Stockton and Las Vegas were the top three, each with more than 4 percent of total households in some stage of foreclosure during the year.
Five other California metro areas joined Stockton in the top 20: Riverside-San Bernardino at No. 4, Sacramento at No. 5, Bakersfield at No. 7, Fresno at No. 14 and Oakland at No. 16. Four Ohio cities were in the top 20: Cleveland at No. 6, Akron at No. 12, Dayton at No. 15 and Toledo at No. 19. Florida accounted for three metro areas in the top 20: Miami at No. 8, Fort Lauderdale at No. 10 and Orlando at No. 20.
To give you a more graphical view of the on-the-ground implications of foreclosure activity at the neighborhood level, we've created a map showing Detroit fourth-quarter foreclosure filings geographically. We've color-coded the foreclosure filings by type of filing. Even at this zoom level (which doesn't even capture the entire city), it appears that the foreclosure properties are stacked on top of each other in some areas. No doubt this high concentration of foreclosure activity will have a big impact on many neighborhoods in Detroit.
Do you see evidence of foreclosure activity in your neighborhood? What affect is that having on the neighborhood? Are residents starting to panic or most people in it for the long haul and not too concerned with this downward part of the cycle?

View full report for top 100 metro areas.