[Nachum]

"Foreclosure Rebound Pattern": Foreclosure Starts SUDDENLY Jump 57% in California (And Soar In Much Of The Country)

[Nachum]

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[wiggen]

the article doesn’t go into it but there were a great many banks holding off on foreclosing at the govts request. Maybe that just ran out. While i think the economy sucks the number could be an anomaly.

[HarleyD]

All the numbers being reported by this government is phony. Certainly a lot of this is politically motivated and the dishonesty of the news media. But I also think it some of it is to prevent panic.

[trebb]

That info about the economy not being good was certainly unexpected...

[Henchster]

There are many places around the country, including some cities in Silicon Valley, where home values are now higher than they were at the peak of the last bubble.

This is the start of another clean-out phase. Prices have risen to where it is now advantageous to foreclose, write off the bad loan, and then re-sell the property for a minimal net loss - before the housing market crashes again due to the glut of homes dumped on the market by the foreclosing banks during the endless Obamanomics depression.

[Liberty Valance]

Anybody hear anything from Christopher Dodd or Barney Frank?