Delinquencies and foreclosures
The percentage of all mortgages in Vermont that were 30 days or more
past due stood at 3. 3 percent as of this past April, down from 4.1 percent
a year earlier and nearly a percentage point below the 4.2 percent rate
nationally, CoreLogic reports. The housing foreclosure rate for the state
as of this past April stood at 0.7 percent, compared to the national mark
of 0.6 percent.
Foreclosure actions in Vermont, defined as property auctions and real estate
owned, surged in second-quarter 2015, to 175 actions, up from 106 the prior
quarter, according to data from Attom Data Solutions. They declined gradually over the next four quarters, until surging once again in third-quarter
2016, reaching 173 foreclosure actions. Foreclosure actions then dropped
off, but continued to bump up and down, ranging from a high of 134
actions in first-quarter 2017 to a low of 105 actions in second-quarter 2017.
In first-quarter 2018, there were a total of 129 foreclosure actions.
During the height of the job losses sparked by the Great Recession, Vermont’s unemployment rate never rose above 6. 9 percent, compared
with the national high mark of 10 percent unemployment. As of this
past July, Vermont’s unemployment rate, 2.8 percent, was more than a
full percentage point below the national rate of 3. 9 percent.
Vermont’s extremely low unemployment rate, however, has to be set
against the state’s aging, and declining, population. Between 2010 and
2017, Vermont posted the third largest decline nationwide in the actual
number of people living in the state, recording a net loss of 2,325 people.
On the bright side, according to a mid-year 2017 estimate by the U.S.
Census Bureau, last year was the first year since 2013 that Vermont
recorded an uptick in population, slight as it was —a net gain of
303 people year over year.
Sources: Attom Data Solutions, Burlington Free Press, City of Montpelier, Forbes, History.com,
Los Angeles Times, New England Today, Rutland Winter Fest, U. S. Bureau of Economic
Analysis, U. S. Bureau of Labor Statistics, U. S. Census Bureau, CoreLogic, Vermont Department
of Economic Development, Vermont Department of Tourism and Marketing, Vermont.com,
Vermont Realtors, Vermont State Fair, Vermont Technology Alliance
Bill Conroy is editor in chief of Scotsman Guide Media.
Reach him at (800) 297-6061 or email@example.com.
Although it has a population of only 42,000 people, Burlington is the
largest city in Vermont, and the first city in the country to be powered
completely by renewable energy. Burlington, which is located on the
eastern shore of Lake Champlain, also is a college town and is home
to the University of Vermont, Champlain College and the University of
Vermont Medical Center. Major private-sector employers in the city
include Fletcher Allen Health Care, ice cream maker Ben & Jerry’s, Burton Snowboards, restaurant operator Bruegger’s and Lake Champlain
A community of some 17,000 people located in the Green Mountains,
Rutland offers visitors and residents alike plenty of outdoor recreational opportunities, including skiing at the nearby Killington Resort as
well as the annual Winter Fest and Rutland Halloween Parade. Rutland
also hosts the Vermont State Fair, which is managed by the Rutland
County Agricultural Society and dates back to 1846, making it one of
the oldest state fairs in the country.
This city of some 8,000 residents is Vermont’s capital, a small town with
the amenities of a large urban market, including a strong arts and music scene as well as top-notch restaurants. It is home to the Vermont
College of Fine Arts and the New England Culinary Institute. Montpelier
holds claim to being the only state capital without a McDonald’s, and
it also is the smallest state capital in the nation based on population.
3 Cities to Watch
Vermont Foreclosure Filings
Source: Attom Data Solutions