Despite the national housing crisis, Charlottesville has a slightly lower foreclosure rate than the national average.
Less than 1/2 of 1 percent of Charlottesville area homeowners were either in foreclosure or more than 60 days behind payments on a subprime loan, according to October statistics compiled by the Federal Reserve Bank of Richmond….“It’s fair to say that the Charlottesville area does not have a subprime mortgage crisis, at least not at this point,” said Phil d’Oronzio, principal of Pilot Mortgage.
I’d love to see the sources of all of these conclusions. For example – how is the “Charlottesville region” defined – which localities are included?
Well, Jim my Nordic powers lead me to no data source, either. I did find this a table on page 34 of the regional 2007 third quarter snapshot that explains Virginia has slightly lower (4.41%) mortgage delinquencies when compared to a national average (5.81%). Additionally, Virginia subprime mortgage delinquencies (15.77%) are slightly lower than the national average (16.68%). I do wonder where the Daily Progress sourced their information, because I couldn’t find it.
Does anyone know?
Related posts:
- $59 Million Government Facility to House 1,000 Jobs North of Charlottesville
- Real Estate Assessments Up. Charlottesville laughs and spits in your face and then throws you in the gutter
- DailyProgress.com Gets A Design Overhaul
Generally, Charlottesville is defined as the city and the four counties or is it five. Anyway, it’s more Greene than it is cville.
Silmo, I think Jim was talking about how the article didn’t say MSA or name what it meant by “region”
Correct – sometimes Louisa is included, sometimes Nelson, sometimes it’s only Charlottesville/Albemarle.
This post is depressing. We need some positive energy here…everyone should head over to the future peace building site after reading all this Armageddon crap. This is wearing me out, I am going to meditate.
Puppies, kittens, flowers.