Foreclosure Homes Highest In a surprising city

Foreclosure Investing

For years, I've always assumed that foreclosures are highest in large citied like Los Angeles and New York.

However, as I was reading this article, I was shocked to learn that Indianapolis leads the nation in Foreclosure rates!

Here's what the report reveals and why it is so...

"The foreclosure rate in Indianapolis is a perfect example of a very unsettling American economic trend," said Addison Wiggin, author of "Empire of Debt" and editorial director of "The Daily Reckoning." "Overseas manufacturer outsourcing, an undereducated working class, and a housing glut have combined to produce the nation's highest foreclosure rate."

A former agricultural and manufacturing hub, Indianapolis' gradual swing away from the manufacturing industry coupled with growth in the insurance and retail industries have put blue collar workers in a serious predicament. Wiggin believes this change could soon be mirrored in similar cities across the nation. "The shift from a manufacturing economy to a service society doesn't mean everyone who used to work in a manufacturing position will get a job in the 'new economy,'" ...

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