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Realistbear

Foreclosure Frenzy Frys Property Market In California

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http://biz.yahoo.com/ap/080722/california_...reclosures.html

AP

California foreclosures soar to 20-year high
Tuesday July 22, 2:51 pm ET
By Alex Veiga, AP Business Writer
California foreclosures soar to 20-year high in second quarter
LOS ANGELES (AP) -- Foreclosures in California soared in the second quarter to the highest level in at least 20 years, as many homeowners who bought at the height of the housing boom were unable to make mortgage payments, a real estate research firm said Tuesday..../
Foreclosures, measured by the number of trustee deeds recorded, increased about 33 percent from the previous quarter and jumped
261 percent
versus the same quarter last year
.

Now that is what I call a frenzy! Its what happens when house prices go beyond the ability of borrowers to repay their mortgages. 6-12 months from now and we shall be there!

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  • 401 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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