Carson City Foreclosures for Sale

Carson City is one of only two United States capitals that border another state, bordering California. Carson City was on the route to the gold rush as the westbound traffic increased in the period 1848-1849.
Carson City is not a particularly rich area, with a median household income of $41,809 with 10.2% of the population living below the poverty line, and these are statistics provided before the credit crunch gained momentum last summer.

Given some of the surrounding areas in Nevada, Carson City is not faring too badly on unemployment with a rate of 6.7% although it is still above the national average which is 6.1%. However, the general trend in Nevada as a whole looks like unemployment heading towards 8.4% which has meant Carson City coming under the government microscope. This has benefited those struggling to find work as the federal government has made Emergency Unemployment Benefits available to residents of Carson City who have exhausted their employment prospects. This is not a quick fix and it is not expected to provide any immediate relief to the hundreds of home owners who have just had their homes repossessed or who are struggling to meet rising mortgage payments.

The job growth statistics are looking more promising than many neighbouring states with recent growth up 2.3% and predicted growth being in the region of 23.3.%. The immediate concern though is the state of the national economy and with the recently announced government bail out package of $700 billion it is clear to the residents of Carson City that the federal administration is more keenly focussed on saving the banks than their homes and jobs.

Carson City has just elected a new mayor in the open race on Tuesday 4 Nov 08 and Bob Crowell’s clear focus is on downtown development and encouraging the arts and culture in an effort to rejuvenate the employment statistics. Many have questioned why there is so much focus on improving the downtown areas (where foreclosures are not at their highest), and the official response is that the building blocks to improving life in the community lies with developing the transport network and building new projects for the younger generation. There will also be a focus on sporting events in an effort to boost the tourism figures for the city. It is hoped that through building on the numbers of visitors the whole economy will benefit and will eventually contribute to lowering the number of foreclosures being filed.

The bottom line, is any initiative that will bring in money to the City will boost income for everyone and reduce the strain of the current economic crisis.

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