HOPE NOW’s monthly data shows that during July, foreclosures were initiated on 105,000 prime borrowers and 92,000 subprime borrowers. Prime foreclosure starts in July were well more than double the 51,000 recorded one year earlier, and up almost 10 percent from June; in comparison, subprime foreclosure starts in July were up 22 percent from one ago, and up 10 percent month-over-month as well.
From this we get (prime, subprime, total):
July, 08 105,000 92,000 197,000
June, 08 94,500 83,000 177,500
July, 07 51,000 72,000 123,000
These number would give an estimate of something like 1.6 to 2.4 million foreclosures for 2008. We see from other estimates that california could account for as many as 450,000 or 25-33% thereof.
No comments:
Post a Comment