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The wave of foreclosures swamping greater Minnesota may be twice as large as
previously reported by national studies, housing officials heard at a recent “Greater
Minnesota Foreclosure Crisis Summit” in St. Cloud.
The new study quantified for the first time the number of actual sheriffs’ sales of
foreclosed properties county by county in Minnesota in 2006. It found a stunning
11,207 foreclosures statewide — nearly double the 5,995 reported in a national study2
conducted by RealtyTrac, a leading provider of real estate industry data, over the same
period.
The study, which covered the 80 counties outside the Minneapolis-St. Paul metropolitan
area (“Greater Minnesota”), was commissioned by Greater Minnesota Housing Fund
and prepared by HousingLink, a Minneapolis-based research organization that provides
information to housing organizations and policymakers.
The full report
is in pdf format and can be downloaded in its entirety or by
section using Adobe Acrobat Reader.
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