Foreclosures in California increase 228%
California Housing Crash, Real Estate October 23rd, 2008
The housing crash continues in California. According to the LA Times: “A record number of homes were lost to foreclosure in California over the last three months, up 228% from last year to a high of 79,511 homes. MDA DataQuick reported that more homes were taken back by lenders in the three months ended Sept. 30 than at any time since the company started tracking foreclosures in 1992.
In the previous three months, which also set a record, 63,316 homes were lost to foreclosure. That’s a huge swing from an all-time low just two years ago of 637 in the second quarter of 2005.”
