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Report: Nevada claims top spot in ‘Misery Index’
Bankruptcies, foreclosures propel Silver State into unenviable position
Friday, Jan. 30, 2009 | 3:28 p.m.
Beyond the Sun
If you're in misery, you've got company.
In a ranking called "The Misery Index," MSN Money ranked states based on the percentage of their residents who experienced a bankruptcy or foreclosure in 2008. It's a list that no state wants to top, but Nevada took first place.
The report indicated Nevadans had 18,337 bankruptcies and 34,417 properties fall into foreclosure last year. With 1,102,379 households in Nevada, that translates into 4.8 percent of households (the report didn't indicate how it handled the duplication of homeowners in foreclosure who also experienced a bankruptcy).
In second place was Michigan, with 3.1 percent of its households experiencing a bankruptcy or foreclosure. Rounding out the Top 5: Georgia (3 percent), Ohio and California (both at 2.9 percent).
The states with the least amount of "misery" were Vermont and South Dakota, where the report said 0.4 percent of their residents experienced a bankruptcy or foreclosure last year. Those two states had a combined 53 foreclosures.
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yippee we are top spot for being miserable
And Governor Jim Gibbons is about to make more bankruptcies and foreclosures happen. Maybe his house will foreclose in Reno.
Funny how the least miserable states, and also the ones without fiscal problems are the least desirable places to live in. Vermont is warm for about 3 months at best, the Dakotas, Wyoming, Montana and such are frozen wind blown misery. You know it's bad when you pull up to a gas station, and can't get out the drivers side door. Happened to me all the time in Wyoming. To each his own, I guess.
Shame about that governor in Illinois. Long as he was in, we didn't have the worst governor in the country. Oh, well . . .
Too bad we can't remove Gibbons in the same fashion as Illinois did with Blago.
This is like the overall championship here. The Super Bowl Champs of Bad! WE'RE #1!
The index seems to reflect states with a lot of growth and, once again, points to mortgage lenders who were "cash-pushers" offering packages that were hard to refuse. Now that the piper has to be paid, the "cash-pushers" have disappeared when they are most culpable for the foreclosures . . .