There are many passionately nursing the hope that property value will recover in California with the magic touch of a miracle. Late night information broadcast over the television is adding to this belief matched by willful thinking. But instead of calculating the macro trends of the economy the limited local data is used that fails [...]

As the housing crisis rages the blame game goes on. The crux of the foreclosure problem is the yawning gap in incomes. The banks are being blamed for seeking out the gullible and making them swallow adjustable rate sub-prime mortgages. Scant attention was taken of the fact that these borrowers hardly had the income to [...]

Today majority of American families have a foreclosure story to tell. This particular one was the story of a couple who were professionals in real estate business. They couple lived in Orange County and earned a combined income of $1, 30,000 a year. With the setting in of the recession in the housing sector, the [...]

Once upon a time it was taken for granted that real estate prices would go up. But reality proved to be contrary. Sellers are being forced to drop prices even at a heavy loss if the unit was bought in 2005 or 2006. The housing bubble, which had been getting bloated since 2002, has suddenly [...]

Stockton has the dubious distinction of ranking first in the foreclosure race with 8000 foreclosures this year. Stockton has a population of about 300,000. One in every 27 houses has slipped into foreclosure. The highest concentration is in Weston Ranch region of Stockton. The figures have been released ACORN, a non-profit organization. The inhabitants belong [...]