Remember the international coverage of Cleveland as a hotbed for eviction and foreclosure cases during the housing collapse and Great Recession? Maybe that won’t be the case in this recession.
A report on vulnerability to foreclosures prepared by Attom Data Solutions, a housing data provider based in Irvine, Calif., shows Northeast Ohio counties are trending lower than other parts of the nation so far this time around. The Midwest is faring better than the Northeast U.S., according to Attom. The data services provider said housing costs rising faster in pricier markets put them at more risk for foreclosures than flyover country.
The index takes into account unemployment linked to COVID-19, home equity, percentage of income to buy a home, prices, current foreclosure cases, housing debt and other factors. The lower a county’s ranking on the list, the greater risk the area has for foreclosures. Surprisingly, just three Northeast Ohio counties