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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Think4Yourself who wrote (78733)	6/2/2007 3:42:02 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 306849

you mean our foreclosure rates ARE crashing, right? Or is this a double negative, meaning we are getting more foreclosures? <gg> It looks like we have some areas worse than Michigan and FLA right now in CA. Subprime loan crisis is hitting Vallejo hard Report predicts nearly 1 in 4 will end in foreclosure sfgate.com The problem is the regions are so diverse it is being counterbalanced by (from the same article): Alameda and Contra Costa counties also have seen notices of default and foreclosure auction sales escalate, although the numbers are small relative to those counties' populations. In the rest of the Bay Area -- San Francisco, Marin, San Mateo, Santa Clara, Napa and Sonoma counties -- foreclosure notices and auctions have increased, but are still at negligible levels. On a trend basis I am sure CA continues to rise in terms of foreclosures. But against the overall population, I'll bet when all is said and done the foreclosure rates are not as high against the overall population. Again I think the culprit is the homesteading laws that never raise taxes.