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May 26, 2022

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Report: Nevada claims top spot in ‘Misery Index’

Bankruptcies, foreclosures propel Silver State into unenviable position

If you're in misery, you've got company.

In a ranking called "The Misery Index," MSN Money ranked states based on the percentage of their residents who experienced a bankruptcy or foreclosure in 2008. It's a list that no state wants to top, but Nevada took first place.

The report indicated Nevadans had 18,337 bankruptcies and 34,417 properties fall into foreclosure last year. With 1,102,379 households in Nevada, that translates into 4.8 percent of households (the report didn't indicate how it handled the duplication of homeowners in foreclosure who also experienced a bankruptcy).

In second place was Michigan, with 3.1 percent of its households experiencing a bankruptcy or foreclosure. Rounding out the Top 5: Georgia (3 percent), Ohio and California (both at 2.9 percent).

The states with the least amount of "misery" were Vermont and South Dakota, where the report said 0.4 percent of their residents experienced a bankruptcy or foreclosure last year. Those two states had a combined 53 foreclosures.

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