Foreclosures new hot spots

The new foreclosure plague is tied more to the economy than bad mortgages. Here are 10 cities where defaults grew the fastest in 2009.

Boise, Idaho

Foreclosure rate: One in every 21 homes
Percent increase from 2008: 103%
National rank: 24th
Unemployment rate: 10.1%


Summary:
The economy of raised up so fast than expected. The houses are constructed more often. In 2003 was $150000 for each person that was the average and 2006 was $260000 for each person. There was a big expectation for houses. They are running out of space to built houses. The demand of houses increases. When the price of the money went up the people started to loosing their job. In the factory of micron they fired about 1500 to 2000 workers. The construction stop. That is a cycle of the money. "In some time of the life will go down" said Boise. We have a really big crisis going on!

Byas: This crisis is changing a lot of our economy because many of the people are dying because of not having money and now that many people got fired a lot more people could die.

http://money.cnn.com/galleries/2010/real_estate/1001/gallery.New_foreclosure_hot_spots/index.html?hpt=T2