Tell me about it.
1. Rhode Island
Building permits/total housing units: 0.07%
Decline in building permits (2005-2011): -70.81% (22nd largest)
Building permits 2011 YTD: 312
Total housing units: 463,388
Foreclosure filings increased 4% in Rhode Island from the first six months of 2010 to the first six months of 2011, according to RealtyTrac. Foreclosures dropped by 29% for that same period on the national level. Rhode Island home sales decreased 20% from one year ago in the second-quarter, according to the Rhode Island Association of Realtors. Additionally, median home prices have dropped 2%. These numbers indicate that Rhode Island's housing market is not recovering at the same pace as the majority of the country. For the first six months of this year, the state has issued a mere 312building permits, the smallest number in the country.
It's too late for me and the wife to move out of this armpit but I'm hoping my kids get the hell out. Should have move to S.C. 10 years ago but kids were in school, wife only had a few more years to retire, yada,yada,yada.
I'm just waiting for Bank of America to get ugly becuase we're damm close to being upside down on both properties. Then I just might say frig'em and walk away. Ill be dammed if I take anything out of savings or stock and give it to them so they can give out a bonus to some pencil necked geek with a MBA who got us in this banking mess.
