BluegrassForeclosure.com

Unfortunately, I would argue that the full recovery has yet to begin from the Great Recession.  Relatively high unemployment levels for extended periods of time, coupled with decreasing benefits have caused more home owners to fall into default.

As Cincinnati.com reports: “Foreclosures in Ohio and Kentucky are at their highest levels since the housing crisis began – and possibly the highest since the Great Depression, new numbers out Thursday show.

One of every 20 Ohio mortgage holders was in foreclosure in the first three months of the year, according to trade group the Mortgage Bankers Association. In Kentucky, foreclosures had ensnared nearly one of every 25 mortgage holders.

Even households not in foreclosure are feeling the impact. The numbers show a real estate market awash in repossessed homes – a heavy drag on all property values.

. . .

As of March 31, Ohio had the seventh-highest foreclosure rate at 5.1 percent, up from eighth-highest at the end of 2010. Kentucky was up two spots, ranked 17th-highest with 3.8 percent of mortgage-payers in foreclosure.

. . .

In Ohio, nearly 72,000 homes were in foreclosure, and in Kentucky, more than 16,000.”