(The Center Square) – With Illinois now being home to the ninth highest home foreclosure rates in the country, Republican state Sen. Martin McLaughlin traces the state’s growing housing struggles back to the doorsteps of the capitol in Springfield.
A new 24/7 Wall Street study finds homeowners across the state now face foreclosure actions in 1 out of every 3,753 instances, and with the onslaught showing few signs of slowing, McLaughlin is calling for action to aid those in need.
“The governor often touts that we’re in the top categories of many indicators that are positive,” McLaughlin told The Center Square. “I think we need to remind the governor that foreclosures and being one of the highest in the nation and growing is not something to be proud of. Obviously, these foreclosure rates are telling a grim story about individuals and families that are having a hard time not only staying in Illinois but being able to afford to stay in their homes in Illinois.”
By comparison, researchers note that the 1 in every 7,112 foreclosures in nearby Missouri is about half of what it is in Illinois. McLaughlin argues it’s easy to see why there is such a discrepancy.
“If the state were in better shape from a tax perspective, if we were actually creating and generating jobs versus losing them, and if we were actually growing our population versus a declining population,” he said. “It’s difficult to get the governor and his administration to acknowledge that their policies have had a direct impact on these negative indicators. Growing moving companies and U-Hauls by people moving out of Illinois is also another category that we’re leading in and one that’s not positive for the future of Illinois families.”
McLaughlin argues there’s a good reason why Democrats in Springfield are slow to address the issue.
“They’re not acknowledging the situation because if they do, they have to own it,” he said. “If they acknowledge what their policies have done, they have to own it and right now Gov. Pritzker and many of the progressives do not want these results being attributed to them and their policies. When a person makes a decision to allow their home to go into foreclosure, it’s not a decision they make lightly. It means that there’s no hope to recover. It is pretty much the last recourse.”
Researchers analyzed data on foreclosures from ATTOM Data Solutions with states being ranked based on the number actions filed in December 2024.
