Comments on: Unsophisticated, Cold Climate, and ‘Backwoods’ States have Lower Foreclosure Rates http://steadfastfinances.com/blog/2009/10/16/unsophisticated-cold-climate-and-backwoods-states-have-lower-foreclosure-rates/ A Personal Finance & Investing 101 blog that delves into current events, consumer education, and techniques to improve your bottom line. Sat, 20 Mar 2010 04:17:42 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Ryan @ Planting Dollars http://steadfastfinances.com/blog/2009/10/16/unsophisticated-cold-climate-and-backwoods-states-have-lower-foreclosure-rates/comment-page-1/#comment-10970 Ryan @ Planting Dollars Sun, 07 Feb 2010 05:03:46 +0000 http://steadfastfinances.com/blog/?p=2486#comment-10970 Being from Wisconsin I saw that foreclosure rates were significantly lower there as well. Back home everyone is more conservative, they tend to not be as flashy, and they actually say hi to you on the streets. Just a more small town feel that encourages simple living and isn't impressed with yachts and Mercedes, which is refreshing. Being old school payed off in the current market. Being from Wisconsin I saw that foreclosure rates were significantly lower there as well. Back home everyone is more conservative, they tend to not be as flashy, and they actually say hi to you on the streets. Just a more small town feel that encourages simple living and isn’t impressed with yachts and Mercedes, which is refreshing. Being old school payed off in the current market.

]]> By: 5 Lessons Potential Home Buyers Can Learn from Median Income vs Median Home Price | Steadfast Finances http://steadfastfinances.com/blog/2009/10/16/unsophisticated-cold-climate-and-backwoods-states-have-lower-foreclosure-rates/comment-page-1/#comment-8015 5 Lessons Potential Home Buyers Can Learn from Median Income vs Median Home Price | Steadfast Finances Wed, 02 Dec 2009 20:06:45 +0000 http://steadfastfinances.com/blog/?p=2486#comment-8015 [...] estate boom.  They might not have participated in the profit making boom cycle, but they’re not facing as many foreclosures in the bust cycle either.  Sometimes chasing the slow and boring dollars is the safest bet after [...] [...] estate boom.  They might not have participated in the profit making boom cycle, but they’re not facing as many foreclosures in the bust cycle either.  Sometimes chasing the slow and boring dollars is the safest bet after [...]

]]> By: Matt SF http://steadfastfinances.com/blog/2009/10/16/unsophisticated-cold-climate-and-backwoods-states-have-lower-foreclosure-rates/comment-page-1/#comment-5504 Matt SF Thu, 22 Oct 2009 15:48:07 +0000 http://steadfastfinances.com/blog/?p=2486#comment-5504 @ Joe Yeah, sounds like it's not a 1 to 1 correlation since I'm trying to identify one single causative agent. An old colleague of mine bought an investment property in Las Vegas for the simple reason that "everyone else was buying one", so I suppose the investing herd mentality suppressed their common sense. @ Joe

Yeah, sounds like it’s not a 1 to 1 correlation since I’m trying to identify one single causative agent.

An old colleague of mine bought an investment property in Las Vegas for the simple reason that “everyone else was buying one”, so I suppose the investing herd mentality suppressed their common sense.

]]> By: Matt SF http://steadfastfinances.com/blog/2009/10/16/unsophisticated-cold-climate-and-backwoods-states-have-lower-foreclosure-rates/comment-page-1/#comment-5503 Matt SF Thu, 22 Oct 2009 15:45:07 +0000 http://steadfastfinances.com/blog/?p=2486#comment-5503 @ RetSav I think you're right... beach bunnies in Florida has more appeal than the Polar Bear Club of North Dakota (assuming they have a charter). :) @ RetSav

I think you’re right… beach bunnies in Florida has more appeal than the Polar Bear Club of North Dakota (assuming they have a charter). :)

]]> By: Joe Morgan http://steadfastfinances.com/blog/2009/10/16/unsophisticated-cold-climate-and-backwoods-states-have-lower-foreclosure-rates/comment-page-1/#comment-5502 Joe Morgan Thu, 22 Oct 2009 15:18:52 +0000 http://steadfastfinances.com/blog/?p=2486#comment-5502 My guess is that these places saw much less speculation due to the fact that the people living in such places are buying homes because they need a place to live, not for investment's sake. My guess is that these places saw much less speculation due to the fact that the people living in such places are buying homes because they need a place to live, not for investment’s sake.

]]> By: Retirement Savior http://steadfastfinances.com/blog/2009/10/16/unsophisticated-cold-climate-and-backwoods-states-have-lower-foreclosure-rates/comment-page-1/#comment-5361 Retirement Savior Fri, 16 Oct 2009 20:37:45 +0000 http://steadfastfinances.com/blog/?p=2486#comment-5361 My guess is that the high foreclosure states are the destination places. People wanted to live there for good jobs, nice weather, and were willing to take out big loans to live the dream. Low foreclosure states just didn't have as much to pull in new residents, possibly. Though I would like to check out Vermont at some point. My guess is that the high foreclosure states are the destination places. People wanted to live there for good jobs, nice weather, and were willing to take out big loans to live the dream. Low foreclosure states just didn’t have as much to pull in new residents, possibly. Though I would like to check out Vermont at some point.

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