Indiana Foreclosed Homes For Sale - Increase 7.72%

September 3rd, 2009 | Tags: Foreclosure Crisis

foreclosure-increase

The state of Indiana is hurting when it comes to the foreclosure crisis. They have been a long time hurt state with the onset of the family farm problems which got farms into foreclosure and then the standard mortgage crisis that the country just underwent made matters eve worse.

You can add on to tat the fact that there are a lot of plants here in the state of Indiana that make parts for and supply parts to the auto industry across the state boards north to the city of Detroit. As we all know the auto industry is in bad shape and have been cutting production so there is less need for the parts.

This is having the fallout problem of job loss in the state of Indiana, which in turn raises the rate of foreclosed homes in the state to reflect the current increase that we see from May of this year up and in to the month of July. There is not much good news on the horizon here either because the carmakers don’t anticipate much change this year so there will more than likely be more layoffs and job loss resulting in further degradation of the foreclosure numbers in Indiana.

As if to add insult to the injury, the retail market for non-essentials has also plummeted and the lack of sales there has caused further layoffs, which in turn mean more foreclosures will be coming around very soon. All of the indications are that the state of Indiana is in for a very rough time for the next few years in regards to the home foreclosure market and the numbers related to it.

The glimmer of hope is that once the auto industry rebounds there should be a surge in the jobs, which should help the numbers that are being reported on the foreclosures.

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