327%: how much Calis forecloseur as gone up since 07

evince

evince

Truthmatters
http://latimesblogs.latimes.com/laland/2008/04/california-fo-1.html


California foreclosure "surge": Up 327% from '07 levels
The number of California homes lost to foreclosure in the first quarter surged 327% from year-ago levels -- reaching an average of more than 500 foreclosures per day -- DataQuick said in a report, warning that the widening foreclosure problem could "spread beyond the current categories of dicey mortgages, and into mainstream home loans."

From DataQuick's report on California foreclosures in the first three months of 2008: "Trustees Deeds recorded, or the actual loss of a home to foreclosure, totaled 47,171 during the first quarter. ... Last quarter's total rose 48.9 percent from 31,676 in the previous quarter, and jumped 327.6 percent from 11,032 in first quarter 2007." That translates into 517 foreclosures every day in the first quarter of 2008.
 
Desh said:
http://latimesblogs.latimes.com/laland/2008/04/california-fo-1.html


California foreclosure "surge": Up 327% from '07 levels
The number of California homes lost to foreclosure in the first quarter surged 327% from year-ago levels -- reaching an average of more than 500 foreclosures per day -- DataQuick said in a report, warning that the widening foreclosure problem could "spread beyond the current categories of dicey mortgages, and into mainstream home loans."

From DataQuick's report on California foreclosures in the first three months of 2008: "Trustees Deeds recorded, or the actual loss of a home to foreclosure, totaled 47,171 during the first quarter. ... Last quarter's total rose 48.9 percent from 31,676 in the previous quarter, and jumped 327.6 percent from 11,032 in first quarter 2007." That translates into 517 foreclosures every day in the first quarter of 2008.
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Stockton and the Inland Empire. Too much land, developers went crazy. And the sad part with the prices dropping most people still can't afford a home. California - it's glorious!
 
Cali could crash for 2 more years seriously and I couldn't come close still to affording the kind of House I have here.
 
Chapdog said:
it aint that great to live in cali to be paying 700k for a 2k sf house.
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many people would agree. Citizen thinking some of the prices tumbles so far will stop this fall after the incredible run up we've over the past five years just shows he doesn't know California.
 
cawacko said:
many people would agree. Citizen thinking some of the prices tumbles so far will stop this fall after the incredible run up we've over the past five years just shows he doesn't know California.
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Hey I am just quoting the real estate experts and such I see interviewed.

From my perspective, my reply was sarcasm.
 
uscitizen said:
Hey I am just quoting the real estate experts and such I see interviewed.

From my perspective, my reply was sarcasm.
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Some areas haven't been hit as hard as others so there value will up hold up better. But out in the middle part of the state there is an *ss whooping going on (not on the same scale but S.D. and L.A. are getting it to).

The thing is when your home runs up in value 40% - 60% over a three to four year period losing back most of those gains should not put you in a hole.

Edit: Why was your reply sarcasm? It can be argued in some pockets of the state prices will level off by fall. Granted those are small pockets. I thought you were trying to imply those small pockets represent most of the state.
 
Small pockets all over the place have a big impact.

that combined with the chart Trog posted showing Ca has above average unemployment.
 
Full of Caliprunians is the biggest problem.
I am happy we have a California for all the nuts to congregate in so the rest of us are not bothered by them.
 
Miles and miles of ocean, mountains ,deserts, plains, valleys,forrests, lakes and weather that compares to very few places in the US. Jobs of all kinds, universities, colleges and a diverse populace. My little town of Ontario had soil like you would not believe, you can grow anything. The market prices Cali and its always high compared to other states for good reasons. When you can go without using your heater and or airconditioning for big parts of the year you save alot of money on your expenses. The economy will come back and you will see that Cali will still have people moving there for good reason,
 
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