Foreclosures Down But Central Valley Still Hardest Hit


Inquiring minds are upon California’s Central Valley and seeing the devastation wrought by this ongoing real estate crisis:

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 262,339 U.S. properties in November, a 21 percent decrease from the previous month and a 14 percent decrease from November 2009, according to a report Wednesday night from RealtyTrac Inc., an Irvine-based foreclosure information company.

But despite the drop, five Central Valley cities are among the nation’s ten hardest hit by foreclosures, says RealtyTrac.

The truly increbible statistic is that over and over again; Stockton, Modesto, and Merced appear in the national lists:

Stockton ranks No. 2 in the nation with one in every 130 housing units receiving a foreclosure filing last month.

Bakersfield at No. 3 (one in 133 housing units); Modesto at No. 4 (one in 135 housing units); Merced at No. 6 (one in 147 housing units); and Sacramento-Arden-Arcade-Roseville at No. 9 (one in 163 housing units).

Two other California cities are also on that list: Vallejo-Fairfield at No. 5 (one in 144 housing units) and Riverside-San Bernardino-Ontario at No. 7 (one in 148 housing units).

If anybody thinks that somehow these cities did something differently than Orange County, LA County, the Bay Area, and/or San Diego…just wait. The crisis cometh to your neighborhood soon. To get a feel for the numbers, please, click on the link to the article at the beginning of this post.

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2 Responses

  1. […] have much overlap with those of, say, Rep. Dennis Cardoza, whose central California district boasts three of the nation’s ten cities hardest hit by the foreclosure crisis and merely wants the FHFA director to relax standards […]

  2. […] with those of, say, Rep. Dennis Cardoza, whose central California district boasts three of the nation’s ten cities hardest hit by the foreclosure crisis and merely wants the FHFA […]

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