More bad news from Michigan

Michigan's economy is still in a recession. I expect this number to rise with the Ford Wixom closing and its ripple effects.
From the AP

Michigan foreclosures double in two years, now 2 1/2 times U.S. rate
2/27/2006, 5:14 a.m. ET
The Associated Press

DETROIT (AP) — The number of homes undergoing foreclosure in Michigan doubled from February 2004 to February 2006 to a rate that is 2 1/2 times the nation's, according to a group that monitors foreclosures.

Michigan had 8,240 homes in active foreclosure on Monday out of 96,019 nationwide, the Boca Raton, Fla.-based Web site http://www.foreclosure.com says. In February 2004, the state had 4,085 foreclosures in progress.

Michigan's active foreclosures are 8.6 percent of the U.S. total, while the state's population of 10.1 million is only 3.4 percent of the nation's 296.4 million.

(snip)