Monday, March 05, 2007

"Foreclosures up 65% YOY"

From the Central Valley Business Times come a story with some serious spin. Instead of focusing on the year-over-year numbers, as they usually do, these cheerleaders spin the news using month-to-month numbers:

The worst of America’s home foreclosure crisis may be over, in the opinion of a Central Valley real estate investment advisory firm and publisher of foreclosure and property information.

Nationwide, foreclosure filings dropped in February for the second straight month to 106,074, down 3.4 percent from January’s 109,851 filings, and off 6.5 percent from December’s soaring 113,486, according to figures released Monday by of Fair Oaks.

The latest numbers still are up almost 65 percent from the 64,375 filings for the same time a year ago, according to

“The foreclosure numbers finally are beginning to reflect the stabilization in housing markets that we’ve been talking about for the last few months,” says Alexis McGee, president of

1 comment:

Perfect Storm said...

This article is just more realtwhore spin. They actually think we have weathered the storm when subprime guts are being splattered all over the ground. This my friendly realtor is still the calm before the perfect storm you created.

Fasten down the hatches, get the pumps going, woops realtor over board, thats ok unnecessary cargo leave it for the sharks.