The Washington Post has a story on rising local home foreclosures. A graph provided by the GMU Center for Regional Analysis shown on the first page shows that defaults are most pronounced in Prince William, Loudoun, Stafford, and Prince George's counties.
This was a curious line in the fourth paragraph:
"The Washington region, once considered immune to the unfolding mortgage crisis, has experienced a surge of loans gone bad in recent months."
Once considered immune? By whom?
Maybe this guy, who's definitely changed his tune on Prince William County:
At the opposite end of the spectrum are Prince William and Loudoun counties, where 262 and 219 out of every 10,000 households, respectively, were in foreclosure, said John McClain, the center's deputy director.
"In those counties, there were plenty of people engaged in speculative activity in addition to all the folks who were overextending to buy a house," McClain said. "There were so many new housing units for sale in that area that people were buying and flipping, buying and flipping."