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pageoneresults - 2:47 am on Aug 14, 2007 (gmt 0)
I do believe we are also looking at particular areas being hit the hardest. California's Real Estate Boom has been off the charts. I've seen properties go from $250,000 to $500,000 in less than two years. It has forced many to "share with family". So much so, that some communities are now enforcing a "number of persons" per dwelling regulation. I don't think this is your typical Ebb and Flow of the industry either. This is probably the Real Estate Tsunami of the Decade? Yes? No? I see differing opinions. Are other countries experiencing what we are in the United States as far as real estate goes?
I can't speak for other regions, but this sure paints an ugly picture for Californians... Lenders filed 53,943 Notices of Default (NoDs) during the April-through-June period. That was up 15.4 percent from 46,760 for the previous quarter, and up 158.0 percent from 20,909 for second-quarter 2006, according to DataQuick Information Systems of La Jolla. We're sorry, but you just cannot squeeze 12 family members into a 1,000 s.f. residence. Also, we don't appreciate you taking all 12 of the visitor parking spots either. ;)