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July 12, 2007

Today's Housing Bubble Post - Foreclosures Jump

-- by Dave Johnson

U.S. Foreclosure Filings Jump to Record in First Half,

Mortgage foreclosures in the U.S. jumped to a record in the first half as rising interest rates and falling home prices battered homeowners.
[. . .] In June, defaults surged 87 percent to 164,644 from a year ago, said RealtyTrac, a seller of foreclosure data, in the statement today. Last month's total was 7 percent lower than in May. California, Florida, Ohio and Michigan accounted for half the national total in June.
[. . .] California had the second-highest rate, with one filing per 315 households, and the most filings overall, 38,801, for the sixth month in a row. Foreclosures in California, the most populous state, increased almost three-fold over a year ago.

Posted by Dave Johnson at July 12, 2007 3:32 PM

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