Wednesday, September 21, 2011

Tracking Foreclosures in LA and Pasadena

man things have gone awry.... I like to take a look at the actual stats of our economy so I have an idea what trouble we're in, when we'll come out of it, and when we'll slide even further. Most economists agree we're in another recession--the proverbial 'double dip'. I'm not a fan, but what does the evidence say and how is California really doing? Well take a look at this graph:
This graph depicts LA foreclosures since 2006. You can see the ominous increase that peaked just before the 2008 crash. After the crash, well, using this data it's anybody's guess. There doesn't appear to be a trend other than every period we see an unfortunate number of people losing their homes. Just when you think the number may be declining you have another month, like this past June, where 2471 foreclosures were recorded, up from the previous month by over 300. What about Pasadena?
Same thing really. We can't tell where the numbers are going. Albeit they are much smaller, no real trend emerges. May was a great month, June was the second highest total of foreclosures this year (at 26). What does the data mean? IN the least we're not out of the woods yet and people are still in trouble. After that, it's anybody's guess. It seems clear that the 'recession' is still here, the economy still lags, and recovery isn't in sight.

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