Record highs for foreclosures were set in many counties in North Carolina in 2010. The Watauga Democrat reports in Watauga County, foreclosures were up 500% since 2010. One in seventy-eight Watauga homeowners were unable to pay their mortgages. For all of North Carolina, the average was one in sixty-three. Mecklenberg and Union Counties had the highest rate, one in forty-five.
Unemployment is also on the rise in some counties. According to the latest numbers released by the state, Cherokee’s unemployment rate is 13.5%; Graham’s, 18.6%; and Clay’s, 10.1%.
And thus we see we are well out of the recession and economic recovery is in full swing.
