CD11 among hardest-hit foreclosure districts in U.S.

The website Hotpads.com lists Rep. Jerry McNerney’s congressional district among the top 10 in the U.S. hit with foreclosures. California is the second-worst state behind Nevada.

This probably isn’t much of a news flash for the folks living in CD11.

But here’s the press release:

HotPads.com Election Foreclosure Maps Show California to be Second Hardest Hit State

Golden State‘s congressional districts dominate the Top 10 worst for foreclosure

WASHINGTON, DC (October 15, 2008) – Seven of California’s congressional districts are ranked in the Top 10 worst districts for foreclosure in the country, according to 2008 Election Foreclosure Maps unveiled last week by Hotpads.com, the Web’s leading map-based housing search service.

Representative Dennis Cardoza (CA-18) has the worst foreclosure rate in the country at 4.59 percent, the new feature shows. Rep. Mary Bono Mack’s (CA-45) district is the second at 4.51 percent (her husband Rep. Connie Mack of Florida is fifth). The national foreclosure average for congressional districts is 0.49 percent, according to the new feature.

The other members of California’s delegation to make the Top 10 worst districts include: Joe Baca (CA-43) at 4.16 percent; Jerry Lewis (CA-41) at 4.01 percent; Howard McKeon (CA-25) at 3.86 percent; Ken Calvert (CA-44) at 3.59 percent; and Jerry McNerney (CA-11) at 3.16 percent. In addition, the Golden State has 21 of the Top 30 worst districts and 31 of the Top 50.

Unveiled last Tuesday the Election Maps provide a detailed, in-depth look into how the nation’s housing and foreclosure crisis has impacted the country’s congressional districts. The new feature breaks down foreclosure percentages by district as well as by party affiliation, represented by red and blue color coding. Hotpads.com features over 1 million foreclosure listings through its partnership with RealtyTrac, the leading online marketplace for foreclosure properties.

California is the second hardest hit state overall behind Nevada, with a foreclosure rate of 2.39 percent. Republican presidential nominee John McCain’s state of Arizona is third at 2.37 percent, while Democratic presidential nominee Barack Obama’s state of Illinois is the eighth state hardest hit by the housing crisis with a foreclosure rate of 0.69 percent.

“This year the housing and foreclosure crisis has dramatically weakened our nation’s economy and the economic downturn has become the fulcrum point for the upcoming election.  Because of HotPads’ vast amount of housing data and our unique technology we have been able to produce data on particular districts and representatives that previously was not available,” said the Web site’s co-founder Doug Pope. “Every day we work to ensure our users are informed housing shoppers. With this new technology we hope to do the same for voters.”

Republican congressional districts have an average foreclosure rate of 0.50 percent, whereas Democratic congressional districts have a rate of 0.47 percent. Yet Republicans and Democrats split the top ten districts hardest hit by the foreclosure crisis.

Representatives who voted for the 2008 Foreclosure Prevention Act have a 40 percent higher foreclosure rate than those who opposed the bill, according to the feature’s findings.

The Top 10 Worst Districts:

Dennis Cardoza (CA-18) at 4.59 percent

Mary Bono Mack (CA-45) at 4.51 percent

Jon Porter (NV-3) at 4.45 percent

Joe Baca (CA-43) at 4.16 percent

Connie Mack (FL-14) at 4.04 percent

Jerry Lewis (CA-41) at 4.01 percent

Howard McKeon (CA-25) at 3.86 percent

Ken Calvert (CA-44) at 3.59 percent

Shelley Berkley (NV-1) at 3.22 percent

Jerry McNerney (CA-11) at 3.16 percent

The Top 10 Best Districts:

Peter Welch (VT at Large) at 0.001 percent

Jerry Moran (KS-1) at 0.002 percent

Gene Taylor (MS-4) at 0.003 percent

Charles Boustany (LA-7) at 0.004 percent

Bill Shuster (PA-9) at 0.005 percent

Tom Latham (IA-4) at 0.005 percent

Charles Rangel (NY-15) at 0.005 percent

Bud Cramer (AL-5) at 0.005 percent

Alexander Rodney (LA-5) at 0.006 percent

Tim Walz (MN-1) at 0.007 percent

About Hotpads.com (www.hotpads.com)

Hotpads.com launched its map-based housing search and listing service in November 2005. Since its launch, Hotpads.com has become one of the fastest growing active listing services on the Web. Founded by two Notre Dame roommates turned entrepreneurs, HotPads’ goal is to simplify the process of housing search through advanced technology and services.

Lisa Vorderbrueggen