"How does Texas fare on the list?"
"Not good, Bob. Texas is third on the list of number of foreclosures, trailing only California and Florida."
AAUUUUGGGHHHHH! THOSE ARE THREE OF THE FOUR MOST POPULOUS STATES, SO THAT IS EXACTLY WHAT WE SHOULD EXPECT. Give me some kind of rate change or per-capita statistic. If anything Texas might be ahead of what we'd expect, since it is second most-populous but third in number of foreclosures. Ok, I just went online to find a link with the numbers that the radio folks were discussing. IT MAKES THE EXACT SAME IRRITATING KIND OF STATEMENTS. Look at the headline: Texas still struggling with foreclosure woes, study shows. But let's read what is revealed in the text.
For the first six months of 2007, the Lone Star State reported 69,471 foreclosure filings, according to Irvine, Calif.-based RealtyTrac. That amounts to an average of one filing for every 130 homes. The company will not release individual market data for another week.
There were two other states that had a higher number of foreclosure filings than Texas.
For the first six months of 2007, RealtyTrac reports that California led the nation in the number of foreclosures, with a total of 189,560 filings -- an average of one foreclosure filing for every 69 households. Florida took second place, with a total of 102,213 filings. That amounts to an average of one foreclosure for every 81 households.
The national picture isn't looking too rosy either. The latest RealtyTrac report shows that over the first six months of the year, the United States recorded a total of 925,986 foreclosure filings. That amounts to an average of one filing for every 134 households.
Hmmm, the national average is one filing for every 134 households and Texas has one for every 130 households. So as anyone with an IQ over 32 could tell, that pretty much equals AVERAGE, not OH NO THE SKY IS FALLING. I'd be a lot more worried about being in CA with 1 filing for every 69 households.
*Follow-up: For contrast: here's an article that discusses the same data in the correct manner. It calls out Florida as fifth in foreclosure rates. Nevada is actually in the worst shape based on that info, and wasn't even mentioned on the radio or in the previous article.