Alaska's Residential Foreclosures

Housing experts across the nation are comparing current housing woes and foreclosure rates to those of the Great Depression. But you don't have to be an octogenarian to remember such hard times for the Alaska housing market. The recent spate of foreclosures in the national headlines may remind a few sourdoughs of the late 1980s bust in Alaska when jobs were slashed, entire residential blocks were turned over to the banks and more than 8 percent of the state's population fled to the Lower 48.