Five Communities That Have Avoided The Subprime Meltdown

While most of the country is feeling the pain of the subprime mortgage crisis, these communities have managed to fly under the radar.

"The subprime mortgage meltdown is impacting neighborhoods across the country. At the same time, job cuts are further stressing the economy. As a result, home foreclosure rates have spiked and neighborhoods throughout the U.S. are poorer for it."

However, some communities have managed to avoid high foreclosure rates, including Lubbock, Texas, Charlottesville, Va, and Burlington, Vt. Employment rates in these towns are holding strong as well, boding well for their future.

To compile the list, "MainStreet asked RealtyTrac, a real estate tracking Web site, to compile data of the cities and metropolitan areas experiencing the lowest volume of foreclosures in February. We took the figures and compared them to employment rates supplied by the Bureau of Labor and Statistics, and then picked the top five cities with the lowest foreclosure rates that had a preliminary unemployment rate for February below or equal to the national average of 4.8%."

Full Story: No Subprime Meltdowns In These Towns

Comments

Prepare for the AICP Exam

Join the thousands of students who have utilized the Planetizen AICP* Exam Preparation Class to prepare for the American Planning Association's AICP* exam.
Starting at $245
Planetizen Courses image ad

Planetizen Courses

Advance your career with subscription-based online courses tailored to the urban planning professional.
Starting at $16.95 a month
Book cover of the Guide to Graduate Planning Programs 4th Edition

Thinking about Grad School?

New! 4th Edition of the Planetizen Guide to Graduate Urban Planning Programs just released.
Starting at $24.95