Another foreclosure jump

Not that we need this kind of news on a day when the financial markets are struggling to keep it together, but new Dataquick numbers show that L.A. County had an 82.8 percent increase in default notices in the fourth quarter compared with a year earlier. Most of the loans going into default had originated between August 2005 and October 2006, the tail end of the boom (and the time when suckers were entering the market). With home prices coming down from that peak, homeowners owing more on a property than what it's worth. Mortgages were least likely to go into default in San Francisco, Marin, and San Mateo counties and most likely in Merced, San Joaquin and Stanislaus counties.

Q4 Notices of Default (% change from Q4 2006)

Los Angeles 13,613 (82.8%)
Orange 4,276 (115.6%)
San Diego 6,151 (95.3%)
Riverside 9,913 (118.9%)
San Bernardino 7,288 (106.0%)
Ventura 1,504 (89.4%)

Source: Dataquick


More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAX
Socal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent stories:
Letter from Down Under: Welcome to the Homogenocene
One last Florida photo
Signs of Saturday: No refund
'I Am Woman,' hear them roar
Bobcat crossing

New at LA Observed
On the Media Page
Go to Media

On the Politics Page
Go to Politics
Arts and culture

Sign up for daily email from LA Observed

Enter your email address:

Delivered by FeedBurner


Advertisement
Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
LA Observed on Twitter and Facebook