http://atlanta.bizjournals.com/atlanta/stories/2003/12/08/story7.htmlAtlanta's economy may be on the mend, with job creation improving, but that has not stopped the foreclosure rate from increasing 25 percent this year.
For all of 2003, 34,842 homes were in the process of foreclosure, up from 27,784 homes in 2002 and 19,732 homes in 2001. That's a 76.6 percent increase in the number of homes in foreclosure in just a two- year period.
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The types of homes in foreclosure now are "middle to upper blue- collar homes" priced at $150,000 to $200,000, Rasmus said. "Before we used to see more
investors and homes priced under $120,000. Now what we are seeing is the family houses. Someone lost their job or got divorced and couldn't keep the house."
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