Thursday, March 5, 2009

More Scare Headlines

Lots of scary headlines today about the number of Connecticut residents either way behind on their mortgage payments or actually in foreclosure. Ignore them. The fact is that even in this tumultuous economy, the number of such delinquencies is 24,230 out of a total of 922,957 owner-occupied homes in Connecticut. The number of delinquencies represents 2.6% of the total. That means that 97.4% of all Connecticut homeowners either have paid off their mortgages or are doing so on time and in an orderly way. This is perspective you aren't finding in the local paper these days. When so many are feeling uncertain about the economy (with good reason), it can be a little comforting to understand what the real numbers are.

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