Mississippi Rings in the New Year with Foreclosures and Lingering Oil Spill Effects
From December 2010 to January 2011, the state of Mississippi continued to drag its feet when it came to dealing with the state’s sluggish economy. From state officials to the locals sitting in coffee shops as well as the word on the street, people felt good about saying the worst was over. However, they feared how long it would take for the state to bounce back. Mississippi foreclosures and the staggering number of unemployed people have taken its toll on the state. Upon entering into the New Year, the state was handed a mixed bag of economic news. As a nation, the economy is still suffering and struggling to climb back to its once thriving self. Government stimulus money is petering out and so is the number of people being hired. This had a profound effect on the number of employees the Mississippi government has hired over the last month and a half. On the upside, the opening of a Toyota plant and several other factories promises to put a dent in the state’s unemployment rates. The state is projected to make an economic comeback, albeit a slow and steady one, over the next few years.
The price of foreclosures in the state of Mississippi and around the nation continues to rise and fall depending on the region and its economic state. Over in Forrest County, Hattiesburg foreclosures rose to 18.68% over a month and a half period. Its overall property values remained at an average of $28,033. Not all cities and counties in the state have seen an increase in foreclosure percentages. Hinds County gasped as its 3,090 households saw a change in the percentage of foreclosures fall to -0.89%. Rankin County drooped to -18.98% keeping the 6,241 residents in the area with an average property value of $37,550. In Jackson county, Ocean Springs foreclosures dropped to -4.05%. Its 6,447 residents live in an area where property values average out to $49,350. Biloxi foreclosures moved to -38.44% from December to January with its 4,983 households praying for relief in the number of foreclosures 
springing up in the area. Compared to surrounding areas, this part of Harrison County has a steady property value of $41,150. Back in Harrison county, Gulfport foreclosures dipped to -26.58%. Its 5,617 households are valued at an average of $41,067. Though the average price of foreclosures changes from month to month and varies from town to town, a large number of Mississippians remain hopeful that high foreclosure numbers will soon be a thing of the past.
With a combination of Mississippi foreclosures and the Gulf oil spill, it’s no wonder people are on edge about the state’s economy. People in the state of Mississippi and around the region are still reeling from the effects of the BP Deepwater Horizon Oil Spill and wondering when or if they are going to receive money to help restore the seafood and tourism industries. A 400 page report has been issued on the Gulf oil spill. It proposes more stringent regulations and penalties aimed at the oil industry. All states affected by the spill are concerned about their economies and environments. Some are worried that a majority of the money given to them is going to go to restoring the environment while leaving the seafood and tourism industries to fend for themselves. While the people of the Gulf States want to protect their environments, many personally feel the need to find and create new jobs. A majority of the people of these great states want to make sure the mistakes made by BP will never happen again. They also want to ensure that new restrictions proposed by the federal commission won’t kill the potential for new jobs and further devastate the area’s economy.
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