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Tough times hit hard in Capac area


Zip code tops county list for foreclosures, numbers reported in Tri-City areas



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November 04, 2009
TRI-CITY AREA — Tough economic times seem to dominate headlines these days. From business closings to budget cuts and everything in between, everyone has felt the pinch. A recent survey of home foreclosures in southeast Michigan puts some of that sad news into perspective.

The Detroit Free Press recently compiled a list of communities with the highest foreclosure rates. Using information from RealtyTrac, Inc., the top 50 list encompasses St. Clair, Lapeer, Macomb, Oakland, Wayne and Livingston counties. The ratings were compiled per zip code.

Capac's foreclosure rate of 13.46 (one foreclosure for every 13.46 housing units) is the highest in St.Clair County and puts them on the Top 50 list at 44th. As noted, the statistics were compiled by zip code and in Capac's case include both the village and Mussey Twp.

For the last three years, the 48014 zip code has seen a rather steady foreclosure number ranging between 23 in 2006 to 30 in 2008. Already, 24 had been recorded in the first eight months of 2009.

In Lapeer County, North Branch and Otter Lake recorded the highest foreclosure rates (12.75) followed by Columbiaville (13.74). In the Top 50 foreclosure rate list of Southeast Michigan communities, North Branch and Otter Lake ranked 38th and 39th, respectively.

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Foreclosures in the Tri-City area have been on the rise for years. Capac holds the highest foreclosure rate in all of St.Clair County. photo by Maria Brown.
Elsewhere in St. Clair County, Yale had the third highest foreclosure rate of 15.18.

Other Tri-City area communities had the following statistics:

Allenton—48002

Housing units: 1,076

Bank repossessions, 2006: 8

Bank repossessions, 2007: 10

Bank repossessions, 2008: 13

Bank repossessions, Jan.- Aug. 2009: 11

Total bank repossessions, Jan. 2006- Aug. 2009: 42

Total foreclosure rate: one for every 25.62 housing units

Capac—48014

Housing units: 1,359

Bank repossessions, 2006: 23

Bank repossessions, 2007: 24

Bank repossessions, 2008: 30

Bank repossessions, Jan.- Aug. 2009: 24

Total bank repossessions, Jan. 2006 - Aug. 2009: 101

Total foreclosure rate: one for every 13.46 housing units

Almont—48003

Housing units: 2,024

Bank repossessions, 2006: 8

Bank repossessions, 2007: 21

Bank repossessions, 2008: 46

Bank repossessions, Jan.- Aug. 2009: 35

Total bank repossessions, Jan. 2006- Aug. 2009: 110

Total foreclosure rate: one for every 18.40 housing units

Attica—48412

Housing units: 2,241

Bank repossessions, 2006: 10

Bank repossessions, 2007: 34

Bank repossessions, 2008: 52

Bank repossessions, Jan.- Aug. 2009: 28

Total bank repossessions, Jan. 2006- Aug. 2009: 124

Total foreclosure rate: one for every 18.07 housing units

Dryden—48428

Housing units: 1,754

Bank repossessions, 2006: 3

Bank repossessions, 2007: 28

Bank repossessions, 2008: 35

Bank repossessions, Jan.- Aug. 2009: 24

Total bank repossessions, Jan. 2006- Aug. 2009: 90

Total foreclosure rate: one for every 19.49 housing units

Imlay City—48444

Housing units: 3,389

Bank repossessions, 2006: 14

Bank repossessions, 2007: 53

Bank repossessions, 2008: 78

Bank repossessions, Jan.- Aug. 2009: 58

Bank repossessions, Jan. 2006 - Aug. 2009: 203

Total foreclosure rate: one for every 16.69 housing units.

Castle Creek
03 - 18 - 19
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