Sacramento foreclosures on the Rise

Inquiring minds are on the Sacramento metro area as somehow foreclosures rise yet again. It continues to get uglier:

Lenders repossessed 4,632 homes in the four-county Sacramento area in the three months ending Sept. 30, foreclosure information firm RealtyTrac said Thursday. That’s up from 4,454 the previous quarter and 4,250 for the same three-month period last year.

It appeared that Sacramento’s foreclosure glut was getting better earlier this year, but the latest figures tell another story.

This next point shows how real estate, along with out-of-control government is a huge problem for The Golden State:

The firm said California alone accounted for 21 percent of the nation’s total foreclosure activity in the third quarter, with 191,016 properties receiving a foreclosure notice — the nation’s largest total. California foreclosure activity decreased nearly 1 percent from the previous quarter and was down nearly 24 percent from the third quarter of 2009.

That last line! Apparently the author never took a math class with a chapter on “significant figures” where he writes that “California forclosures were down nearly 1 percent…”

Wow! A quarterly decrease of almost 1 percent! Surely this writer, Michael Straw, is the great-grandson of the NYTimes reporter who wrote in the October 30, 1929 edition that “the Japan market has come through relatively unscathed” (actually true fact regarding Japan’s market).


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