Foreclosures, the defining signifier of the Great Recession for many Americans, are coming to a screeching halt in Colorado. In fact, the state’s foreclosure rate improved at about twice the national average between 2012 and 2013.
Aldo Svaldi reports on new data from RealtyTrac indicating the vastly improved state of the real estate market in Colorado: “Foreclosure activity in Colorado fell by 54 percent last year from 2012, with 16,684 homes, or 1 of every 132, at some stage of the foreclosure process.” New foreclosures in the state also produced good news, falling 58 percent.
For the sake of comparison, “U.S. homes in foreclosure fell by nearly 29 percent and the number of new foreclosure starts dropped by a third.”
Colorado has been performing well in other measures of prosperity too, showing well in a recent report about household wealth—one out of every 18 Colorado households has investable assets of $1 million or more.
FULL STORY: Colorado foreclosures tumble in 2013
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Bank Doesn't Need Proof it Owns Your Mortgage to Foreclose in Colorado
Starting in 2002, the Colorado legislature began to make it easier to foreclose on properties in Colorado. Original loan documents are no longer required to prove the bank actually owns the property.
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California Exodus: Population Drops Below 39 Million
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Chicago to Turn High-Rise Offices into Housing
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New Park Opens in the Santa Clarita Valley
The City of Santa Clarita just celebrated the grand opening of its 38th park, the 10.5-acre Skyline Ranch Park.
U.S. Supreme Court: California's Impact Fees May Violate Takings Clause
A California property owner took El Dorado County to state court after paying a traffic impact fee he felt was exorbitant. He lost in trial court, appellate court, and the California Supreme Court denied review. Then the U.S. Supreme Court acted.
How Urban Form Impacts Housing Affordability
The way we design cities affects housing costs differently than you might think.
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