Bridgeport CT is ground zero for the State Foreclosure Crisis

April 10, 2009
Matt Isleib

 

Bridgeport, Connecticut nicknamed the “Park City” is ground zero for Fairfield County and the foreclosure crisis. The City of Bridgeport is by population the largest city and urban area in the state. The numbers vary but there are roughly 140,000 residents in the city.

 

The total number of homes that are in the city are roughly 55,000. Combine the number of current foreclosures and pre-foreclosures in the city which stands at about 1,000 and 2% or 1 in 55 homes in the City of Bridgeport are either in foreclosure or in the beginning filing stages of foreclosure.

 

In February of 2009 alone there were 375 new foreclosure filings for the city. While Bridgeport Ct is no Detroit MI it is the leader in the State of Connecticut for foreclosures. It is sad to see as Bridgeport itself has so much history behind it. In years past it was a Mecca of the state’s manufacturing business. And all is not bad in Bridgeport there are a lot of beautiful homes still in the city. In the past ten years or so the city has done a complete 360 degree turnaround. It is the central or heart of the city that is the hardest hit. In and around the heart of Bridgeport you will see the abandoned and foreclosed homes boarded up, like the ones below.