Foreclosures and comedy

Two interesting articles on the Sacramento Business Journal’s Web site today.

  1. Sacramento 1Q foreclosures top 2,500
  2. Old Sac tour operators give visitors a history lesson with a side of fun

There is not much to the former that hasn’t been hashed out here many times already. My only comment would be what does foreclosing on a house have to do with a slowing housing market? Seems to be tied to either folks losing their jobs or their 5 year interest only loans surfacing and folks can’t make the new refinanced loan payments.

I am thinking that sac-eats can comment on the latter link. Has anyone taken this tour? Seems like a decent idea. But then again, I’ve lived here ten years and have only been to Old Sacramento 2 or 3 times.

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2 thoughts on “Foreclosures and comedy”

  1. Oh yeah its only getting worse. In my city its seems like the foreclosures are doubling every 6 months, for the past year. The short sales are really hot right now also. I’m wondering if there would be more foreclosures if it wasnt for the short sales. I guess will see what happens in the next few years.

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  2. Interesting good news/bad news update to this post.

    In Greater Sacramento, there were 3,354 foreclosure filings in November, or one per every 157 households. That ratio put Sacramento fifth in California for foreclosure activity. The region saw a 14 percent decline in foreclosures from October to November, but is still 358 percent ahead of foreclosure filings in November 2006.[1]

    First time I’ve seen “decline” used in a store related to the housing market. Woohoo!

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