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Monday, June 16, 2008

The Real O.C.: Foreclosures Break 1000 per Month

by Calculated Risk on 6/16/2008 07:00:00 PM

Initially, in California, the foreclosure crisis hit mostly lower end areas. But the numbers are starting to grow in the more affluent areas now; like Orange County. Yes, many of these foreclosures are in the poorer areas of Santa Ana, but the problem is spreading (see photos earlier today).

Mathew Padilla at the O.C. Register has the story: O.C. foreclosures hit new record in May, break 1,000 in a month for first time

Orange County Foreclosure Activity Click on graph for larger image in new window.

This graph is based on the DataQuick numbers from Matt's article.

The graphs shows the number of Notices of Default filed (NODs) and actually foreclosures per month.

Note: today was all housing for me. My earlier posts included comments from the NAHB conference call, the DataQuick numbers for Southern California, and more on the housing bust and worker mobility.

Also yesterday I posted another analysis of home improvement investment that might be of interest.

Best to all.