Alaska Foreclosures: Freezing in Urban Areas, Still Thawing in the Tundra
Alaska in February continued to show signs of growth. The jobless numbers stayed consistently below the national level. But in 
keeping with the 2011 forecasts, growth statewide has continued very slowly, especially in all major cities. The exception to the growth has been the southeast corner of the state, maintaining its gradual decline in jobs which has been the trend in all of rural Alaska. In the Pacific states, only Hawaii has lower unemployment, especially enjoying a strong tourist season. The base of Alaska’s continued economic growth is in the science, technology, engineering and math (or STEM) occupations and industries. An educated division of job opportunities leads to growth in the education for these careers as well. The opposite end of the spectrum, mining, saw decreases in February, as did new home construction. Both of these stopped any type of growth in two large scale labor industries, with the growth mainly in jobs that require more brain than brawn, higher education is required. Alaska foreclosures followed these trends, decreasing in major cities and hubs of science activity, increasing in the more rural areas.
Parts of Alaska are still struggling to get back on track, especially in the more secluded areas of the big state. There are Anchorage foreclosures and the harsh winters hold little hope for improvement. Along with the worse jobless numbers, fewer people are able to comfortably make their mortgage payments. Defaults and foreclosures are fairly regular. Juneau foreclosures increased by 9.42 % and Eagle River foreclosures by a shocking and detrimental 26.78%. These areas are currently the subject of both increased federal focus, as they seek to get the loan modifications and HUD approved counselors to be visible, so homeowners in trouble seek can out remedies rather than default.
The rest of the state saw economic growth and foreclosures go down. The trends kept in line with Alaska’s general focus on the urban areas. The growth in Alaska has always stayed in the more settled areas. Even the snow-covered treks and recreation developments stay close to the cities. The developments scientifically stay by nature closer to the cities and universities where the most progressive thinkers and scientists settle. This keeps the wealth and development in urban areas. The foreclosure numbers clearly reflect where Alaska’s focus is. Wasilla foreclosures, in the constant spotlight since the advent of the Palin spectacle, saw the greatest decrease at 16.32%. Anchorage foreclosures and Fairbanks foreclosures were in the middle of the rates of decline at 12.31 % and 11.38 % respectively. Palmer foreclosures were the least, but still around the national rate at 8.34 % decrease.
Alaska foreclosures and unemployment rates have stayed below the national levels and growth in the science industries. Thrust into the spotlight since the Palin family and their “hangers on” brought a new kind of attention to the state. The entertainment industry has taken notice and many movies and reality television shows have called Alaska home and helped the economy and job situation further. Winter with its harsh conditions also makes it ideal for snowy recreation, and the accessible areas prepped and ready to cater to tourists enjoy influx all season long. Beyond the skiing, in their spare time and isolation, Alaskans in have been innovative in ways to entertain themselves and guests. From large scale snowball tournaments, wildlife treks, cross country skiing the Gold Rush routes to standing on the northern most point in the continent, Alaska’s winters are anything but boring. This February was no exception and tourism was at a decade high. Between the entertainment and tourism, Alaskan winters are no longer for polar bears and Eskimos, but for the whole country to observe and enjoy.
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