Posted on 05/14/2008 8:41:40 AM PDT by CRBDeuce
The number of properties with a filing...declined 5 percent from March.
California had the most properties facing foreclosure at 64,683, an increase of 112 percent from April 2007. The number of properties declined less than 1 percent from March.
The state posted the second-highest foreclosure rate in the country, with one in every 204 households receiving a foreclosure-related notice.
California metro areas accounted for six of the 10 U.S. metropolitan areas with the highest foreclosure rates, led by Merced, with one in every 66 households receiving a foreclosure notice.
(Excerpt) Read more at biz.yahoo.com ...
Home ownership is/was not for everyone.
In other news, 95% of mortgage-holders made their payment on time.
The surge is working..........
You probably can have Ladanian Tomlinson’s house for a song......
I just wrote a line on another thread that indicated 1 of 500 were in foreclosure - which means 499 out of 500 mortgagees were making payments on time; the other poster indicated this was a sure sign of a crash.
Life in Democrat Paradise.
The horror!
I pulled my number from a recent Victor Davis Hanson article. I hope no one makes me go look it up. :)
I have a feeling you haven't had your morning coffee. What kind of comparison is that? It doesn't even rate an "apples to oranges" derision.
Are you implying there is an aroma to this “All Bush’s fault” story!??
I am not sure what you mean. If you are referring to the numbers I think one was based on So Cal another nation wide.
Nevada, currently the No. 1 foreclosure state, one out of every 146 households is in default.
http://www.tradingmarkets.com/.site/news/Stock%20News/1555266/
A year over year comparison is a better measure over a month to month.
For example, retail sales nosedive in January, compared to the month before, is that a sign of a failing economy? Of course not.
That’s why retail stores compare their sales from the previous year and not the previous month.
Yep...that was in this article as well. Just wanted to highlight the positive, since the BDS MDM refuses to do so!
On a side note, on CNBC yesterday, the CEO of Toll Brothers (#1 homebuilder) told Kramer that 1) “we’re at the bottom”, 2) the “bargains are behind us, and only onesies and twosies remain at each development.”, and 3) Toll INCREASED prices in Naples, Florida. You won’t hear that on any lame stream media or newsprint either. ‘tho to Kramer’s credit, that MAY show up on thestreet.com.
Your words have 'statistical' merit. That said, the NEWS was the decline, not the 'y/y' increase! As you imply, the much bigger NEWS will be when the MA becomes a year over year decline, but that will be later rather than sooner, of course. Let's go find another wall of worry to climb!
Oh, I agree. The bottom in regards to prices has just about bottomed out in desirable regions, or is already there.
The last places to recover will be the resort areas, where people purchased 2nd homes or vacation homes, and were/are dumping them in mass, in addition to economically depressed areas.
That depends, is the decline a historical decline? Does the foreclosures fall every April when compared to March?
And that’s what it looks like.
In both 2006 and 2007, foreclosures decreased from March to April, (and slightly increased in 2005). So this “good news” is really nothing to be joyous about.
http://www.realtytrac.com/ContentManagement/pressrelease.aspx?ChannelID=9&ItemID=2445&accnt=64847
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