From our friends at Roost.com “Every home for sale… (Well almost…)” We bring you their future blog post (how nice of them to let us post it first).
Roost muscled through a large number of public sources of information and found well over one thousand towns/cities across the US that have more square feet tied up in various states of foreclosure than there are currently available for sale in their respective real estate markets. From that group, they identified the above 10 cities and towns with significantly more square footage in various states of “foreclosure” than “for sale” inventory.
-Those 10 markets alone have over 220 million square feet of residential real estate in foreclosure – almost 4,000 football fields (Kurt Warner could handle it).
-Hialeah Florida, just outside Miami, has almost three times as much existing home footprint in foreclosure compared to what is for sale (Where the hell is Hialeah?).
-There are almost 60 million square feet of living area in foreclosure in Las Vegas (How’s that compare to litres of alcohol consumed?)
-Nine out of the ten cities above are located in areas where new home construction was booming during the heyday of 2000-2005. Only Detroit was exempt from the huge new construction build-up (But Kid Rock had a hit single!)
Thanks folks at Roost! Much appreciated. We’d be really curios to see San Francisco in specific, so if you got it, send it our way.
So how many football fields for the whole lot?