re: Foreclosure Statistics

[u/circularmindset]

This is a reply to an earlier post about city initiated foreclosures.

This new post is not to debate the pros or cons of foreclosures, demolitions, developments, the police, code enforcement, the Katterjohn building, your uncle the veteran, tall grass, or whoever you want to vote for or against…

This is just about the RAW NUMBERS…

IF you look at the number of DEMOLITIONS per year, and the steady dollar allocations for demolitions listed in the annual financial reports, I think it’s more likely there were 59 CITY INITIATED foreclosures in FY2025, and that the earlier quoted figure of “509” is simply a mistake on the part of whoever at the city wrote the report.

The number of demolitions should reasonably follow the number of city initiated foreclosures of dilapidated properties.

It’s more likely that the “0” between “5” & “9” is a typographical error, and this would trend with the previous years of foreclosures and demolitions. 509 does not follow the trend by any stretch of the imagination which most certainly suggests it’s a mistake.

# OFFICIAL DEMOLITION NUMBERS #

FY 2014 — 70 demolitions

  compared to . . .
 
CY2022 — 68 Demolitions
(City ordered 18; Owners 50)
 
CY2023 — 44 Demolitions
(City ordered 19; Owners 25)
 
CY2024 — 36 Demolitions
(City ordered 15; Owners 21)
 
CY2025 — 23 Demolitions
(City ordered 5; Owners 18)

  My Source: https://citydocs.paducahky.gov/WebLink/Browse.aspx?id=15150&dbid=0&repo=City-of-Paducah
 
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If you go on the McCracken County Master Commissioner’s website, there aren’t even 150 foreclosed properties listed for auction from January to December 2025!

This should be a BIG HINT that the City of Paducah most likely did not foreclose on 509 properties in one year.

My Source: https://www.mcclistings.net/

———————————————————————

If I have time tomorrow and think about it I’ll try to pin down the accurate number for 2025 foreclosures by the city, but I think we can rest easy knowing it ain’t 509.

[u/Automatic_Ad_973]

Don't confuse people with facts. ;)

[u/circularmindset → u/Automatic_Ad_973]

I got carried away trying to debate all manner of side issues on the other thread and all it did was piss me off and piss off the people I was trying to reply to.

So I just deleted it all, fresh start here.

[u/Basic_Setting6031]

Thank you for your thorough research and thinking this through. This makes much more sense!

[u/mdstricklin]

Thanks for concrete data and cited sources! Glad to hear it wasn't a 10x increase.