Are Crime Statistics Related to the Real Estate Market?
Did you know that the crime statistics of the United States are closely related to the real estate market performance? Specifically, crime has a direct mathematical relationship with the number of foreclosures in any given city in America. Indeed, out in California near Riverside County, one of the 3-worst real estate areas hit by the recession, mostly due to over expansion at the top of the market and during the bubble run-up. There was a recent article in the LA Times that indicated an FBI study which stated that for every 1% increase in foreclosures, there was a 2.8% increase in crime statistics. Quite frankly, that’s just plain scary! Areas such as Phoenix, Las Vegas, Riverside County, and most of Florida are experiencing increased crime rates. Interestingly enough, in California they have let people out of prison due to overcrowding, and the state’s financial crisis. So, California has a double whammy, there will be more criminals on the street, plus increased crime due to the for
