Florida Land Foreclosure

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We told you the news was crummy today. DataQuick Information Services today is reporting a huge spike in the number of L.A. homes lost to foreclosure -- up 799% from the second quarter of 2006 to this year’s second quarter.

A bunch of numbers from DataQuick: Notices of default more than doubled in L.A., rising 127%, but the default problem is much worse elsewhere in the state:
Statewide: Up 158%
Riverside: Up 191%
San Bernardino: Up 180%
Orange County: Up 138%

In a second category, ‘Recorded Trustees Deeds’ (actual loss of a home to foreclosure), L.A. mirrors the state average, with a 799% year-over-year increase:
Statewide: Up 799%
San Bernardino: Up 987%
Riverside: Up 793%
Orange County: Up 646%

One more cheerful thought: During the three-month period measured, banks and lenders took back 2,581 houses in L.A. -- that’s about 28 houses foreclosed every day.

Hat tip: Cal
Photo Credit: L.A. Times