Monthly Foreclosures and the Dreaded Road Ahead: On Path to another 3,000,000+ Foreclosures for 2009. 1 out of Every 173 Homes Received a Foreclosure Filing in California. 8,800 Foreclosure Filings a Day in the United States.
Foreclosures filings in past economic downturns were usually driven by job losses or contractions in the economy. In our current recession we had an interesting dynamic in that many foreclosures were caused by the actual mortgages given to borrowers. This of course spurred the housing bubble but more importantly, positioned a double whammy for our […]
Can You Live on $60,000 a Year in California? Yes You Can!
California is facing some troubling times. It has one of the highest unemployment rates at 9.3% and families are trying to figure out ways to stretch their dollar as far as it can go. Now I thought in the middle of all the troubling news out there, I would offer a post that examines how […]
Government Employment and Bankrupt City: Federal and State Government were Last Secure Employment Sectors. Financial and Economic Contraction.
States across the country are facing unprecedented budget shortfalls. A total of 44 states face budget shortfalls, which for all practical purposes puts the entire country in a uniform crisis. The state of California is in a state of fiscal panic. Currently the state faces a $42 billion budget deficit and the State Controller has […]
California Budget: California has Run out of Money, Starting Monday. $42 billion deficit and Economic Problems and Future Issues. Investment Forecast for the State.
The California housing and finance driven economy is coming to a destructive end. On Monday February 2nd 2009, California’s chief accountant will start delaying payments totaling approximately $4 billion. In this pot of money, the state will be postponing income tax-refunds, college grants, and welfare checks. Now we really see the pickle of this budget […]