Missouri Foreclosures: One of the Few Improving Aspects of a Floundering Economy
Missouri’s economy had a comparably good month in January 2011. The business index, which is a good economic indicator of all 
the combined conditions, went up from December to reach 57.4. A score of 50 or higher means the economy is actively expanding and all indicators, such as price, inventories, expected hiring and purchase orders, are on the rise. Missouri’s manufacturing and retail were stagnant, while exports and inflation went up. Missouri foreclosures went down and mortgages had no notable changes. Missouri still has the lowest cost of living in the whole United States. Also, although unemployment is under the national average, job loss remains the highest in the region and has gotten worse while other states have been improving locally.
There were no cities, towns or regions that experienced a recorded increase in foreclosures in January 2011. Between the national mortgage industry and the federal stimulation, support and guidelines, Missouri foreclosures have gone down even as the rest of the economy has stalled or deteriorated.
Among the various decreases in mortgage defaults and the ensuing seizure and auction of properties at sheriff’s sales, there was a substantial difference between metropolitan areas. In the capital, Saint Louis foreclosures decreased by the lowest margin, at 10.87%. Kansas City foreclosures, at the other extreme, decreased by a notable 31.33%. In the middle, Blue Springs foreclosures and Saint Joseph foreclosures decreased by 11.77% and 13.33% respectively, staying closer to the capital’s numbers. Saint Peters foreclosures were also in the middle range of Missouri’s decreases at 15.38%, along with Florissant foreclosures at 18%.
Missouri’s Governor Nixon has come under great scrutiny as the promises of his 2008 campaign are left unfulfilled halfway through his term. As he prepares to run again, cracks in his administration are leaking the unfulfilled promises and more. Some of what he pledged were increases or improvements in college scholarships, life science research, government funded healthcare, and public school funding. Missouri has received more federal Medicaid money, but mostly as apportioned from federal stimulus money. When Governor Nixon tried to reverse the previous governor’s healthcare cuts, the legislature voted it down in 2009 and he hasn’t revisited it. Then the need for more cuts arose, and instead of restoring public school funding, he ended up actually making more cuts with renewed promises to help after the crisis passed. Where he did succeed was in increasing small business funding and 
expanding rural Internet service. The rest of his promises seems to be on hold, but will probably be addressed when he announces his reelection campaign. The things that have gotten better, like fewer Missouri foreclosures and the creation of more jobs, have mostly been the results of federal programs and funding.
Missouri had a difficult start to 2011 as it tried to maneuver under unprecedented snowfall, constant accumulations, a faltering economy, and then a rash of strange natural phenomena. In the week of January 9, thousands of birds fell down from the sky for no apparent reason near St. Louis. Within the same week, hundreds of fish washed up dead on the shores of the river just south of St. Louis. Although it has drawn interest from scientists, eco-tourists and those believing in the nearing Mayan apocalypse of 2012, it is not the kind of attention desired by the people and politicians of the struggling state. Although Missouri foreclosures have been decreasing, the state still has many issues that need to be addressed in the coming months before anything positive will be on the horizon. The impending race for governor is hoped to prompt actual change instead of simply the promise thereof. Missouri voters will have to decide how to move their economy forward and the job market up out of this dark period.
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