Bankruptcy Increases in Iowa & Augusta Georgia

Are non “bubble” states feeling the burn of the housing bubble too?

Bankruptcy filings in Iowa, according to this article, increased by 12% during the first 8 months of 2008 compared to 2007:

http://www.chicagotribune.com/news/

Not surprisingly, a lawyer mentioned in the article sites housing issues as one of the major contributing factors that lead to this increase.

Was there a bubble in Iowa?

Even if there wasn’t a major increase in housing prices (there might have been, we haven’t been following Iowa close), this is still a significant increase.

Next, this article from Augusta, Georgia which states that Georgia is 2nd in the largest amount of bankruptcies per capita and that Augusta’s bankruptcy rate increased by 16% from January to June of ‘07 to January to June of ‘08:

http://chronicle.augusta.com/stories/

Interesting reading!

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