Military towns have 4 times the forcloseur rate of the US

part of the problem there could be that they can get stationed out of the area rather abruptly.

If the homes aren't selling, they have two homes to pay for and end up letting the one they aren't occupying go into foreclosure. I can feel for a family if that happens.

If they, like that idiot california rep, just spent too much elsewhere or just plain old bought too much house, then tough t itty.
 
LadyT said:
part of the problem there could be that they can get stationed out of the area rather abruptly.

If the homes aren't selling, they have two homes to pay for and end up letting the one they aren't occupying go into foreclosure. I can feel for a family if that happens.

If they, like that idiot california rep, just spent too much elsewhere or just plain old bought too much house, then tough t itty.
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Pardon my ignorance on this but if a soldier (family) gets shipped to a new area do they have rental housing on the base? To have to buy two homes would be quite a bit.
 
They either have housing or get a housing stipend.

This could just be the cost of being deployed or the spouse losing their job in a down market. They move alot the the spouses job often ends up being one of the peopel who is a newest hire.
 
cawacko said:
Pardon my ignorance on this but if a soldier (family) gets shipped to a new area do they have rental housing on the base? To have to buy two homes would be quite a bit.
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When my dad was in the army, we stayed on base, but some people did buy homes off base
 
I think many valid reasons are brought up above. One additional thought... it could be also that with the military shifting overseas for Iraq and Afghanistan that the local economies are not seeing as much inflow of capital. So it could be that non-military individuals are also suffering as a result and thus adding to foreclosures. Just a thought. This is NOT meant as a "this is all that is happening" type of statement. (the preceding sentence is for the gumby's of the world who like to attempt to spin statements like the above into absolutes)
 
Yeah but a few military areas are booming, Like the FT Knox area of KY. they are moving many new troops and such in there from closed bases over the next year. KY had to come up with about 1/3 of a billion for new schools in that area.
 
Superfreak said:
I think many valid reasons are brought up above. One additional thought... it could be also that with the military shifting overseas for Iraq and Afghanistan that the local economies are not seeing as much inflow of capital. So it could be that non-military individuals are also suffering as a result and thus adding to foreclosures. Just a thought. This is NOT meant as a "this is all that is happening" type of statement. (the preceding sentence is for the gumby's of the world who like to attempt to spin statements like the above into absolutes)
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Can't disagree with that.
 
uscitizen said:
Yeah but a few military areas are booming, Like the FT Knox area of KY. they are moving many new troops and such in there from closed bases over the next year. KY had to come up with about 1/3 of a billion for new schools in that area.
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Well that makes sense.... doesn't it?

If you have a large number of troops moving into the area what are a couple of likely outcomes?

1) Consumer demand for local businesses products/services increases

2) You have an inflow of home BUYERS, which will help stabilize a market.
 
Superfreak said:
Well that makes sense.... doesn't it?

If you have a large number of troops moving into the area what are a couple of likely outcomes?

1) Consumer demand for local businesses products/services increases

2) You have an inflow of home BUYERS, which will help stabilize a market.
Click to expand...

But will it last long enough to get our money back so to speak ?
KY has bad budget problems after our reublican guv. All kinds of education cuts and tuition raises. Now we have to build more schools for military personnel ?
And if the war ends ?
Oh well we will be there for a hundred years, just another form of welfare for that area.
 
Much of the foreclosures are not from military guys who own the homes, but because they are not renting the houses they otherwise would rent if they were there....

Just a guess.
 
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