Stockton (Ca) Worst In The Nation For Home Foreclosures

[AlCzervik]

Source: Cbs 13 Sacramento

Aug 14, 2007 4:04 am US/Pacific

Stockton Worst In The Nation For Home Foreclosures
(CBS13) STOCKTON It's a top ranking out today that Stockton residents won't like.

Stockton and San Joaquin County are the worst in the nation for home foreclosures, with one in every 27 households going into foreclosure. That amounts to more than 8,000 foreclosure filings.

That's a 256% increase from last year.

Sacramento ranked fifth worst in the nation, according to the Realty Trac Report. One in 36 homes goes into foreclosure, amounting to more than 20,500 filings in Sacramento. That's a 241% increase from last year.

Read more: http://cbs13.com/local/local_story_226071019.html

[EFerrari]

1. That's like one house on every block.

:wow:

[AlCzervik]

2. pretty much. I live about 30 miles north of Stockton and i thought it was bad here

i think Elk Grove will be rivaling Stockton fairly soon in foreclosures. Not good.

[NMDemDist2]

13. i went to hi school in Elk Grove in the 60-70s

I looked at a map the other day and all the land I used to ride my horses on is all houses

:eyes:

my old house is still there but the rest of the area is all houses. amazing

[MODemocrat]

15. My daughter and Son-in-law live in Elk Grove

They have had their home on the market for quite a while now, and not having much luck so far. They've
had offers on it, but nothing like what they're wanting. Their home is so beautiful, and at one time,
the neighborhood was so well maintained. There were cattle grazing on the land behind them, but now filled with new homes. It seems there is an over-abundance of homes there, and the neighborhood is beginning to deteriorate. They are retired from their civil service jobs now, and just want a smaller home with a little bit of privacy, so are going to move out of Elk Grove after 20 plus years.

:cry: It just seems to sad how so many things are going down in our country.

[AlCzervik]

18. i hope they can sell soon, as for me, 6 more years and hopefully we'll be out of here.

i've lived in EG for 7 years now and while it's ok it's not where i want to be. My dream is selling and then renting a place in Pacifica for a year and then maybe heading to Monterey and renting there for awhile and continue that until we figure out where we want to end up. the 6 year thing is for when my daughter finished high school and hopefully get accepted to the college of her choice--please be the UC system so we can get an instate tuition break.

[DemKR]

3. dick pombo karma? n/t

Hold on to the memories!

[enid602]

4. Fresno

Awfully close to Fresno, the freeper capital.

[Le Taz Hot]

6. And only people living in Fresno

belong to Free Republic. :eyes: I'm sure there's no one in YOUR town that would belong to such a conservative site. Fresno also has a lot of good, hard-working progressives but let's go ahead and smear a whole entire area because of one website. Kay?? :puke:

[AlCzervik]

7. plenty of freepers living up here in Elk Grove and hey look at Placer county

it was and still may be the populace republican county in Ca. I know people who in Fresno and they are certainly not freepers.

[Sapere aude]

8. Kern county is pretty much good fertile soil for freepers too.

Most of San Diego county, Orange county and the whole San Joaquin Valley are good places to find freepers. You can't get a progressive word on the radio anywhere near me and I'm 30 miles east of the valley.

[AlCzervik]

9. indeed, i think many people that don't live just figure everyone is a liberal.

since i live inland it's like it's own redstate.

[Sapere aude]

11. The large cities are mostly liberal and the country is mostly wing nut just like any state.

[Adsos Letter]

16. You got that right...

...take the drive north fom Bakersfield to San Jose...freeperville and right-wing-Christian-radioville if the radio choices are indicators.

[mitchtv]

21. Pleas don't forget the twins

Riverside and San Bernardino
Freeperside

[kineneb]

23. and Paradise, which is not...

land of White Aryan Resistance, the Klan, and other equally delightful folks... :sarcasm:

it isn't on the SPLC's current list, but the locals know its reputation...

http://www.splcenter.org/intel/map/hate.jsp?S=CA&m=5

[Xithras]

5. No suprise.

It's no coincidence that this region was also consistently rated as the most overpriced during the boom. When your unemployment rate is permanently stuck at 8+%, your average houshold wage is somewhere in the $30k range, and your average STARTER home is selling for $450,000+, something has to give. Bay Area commuters drove the prices up, and low introductory interest rates allowed the locals to buy in for a time, but those introductory rates are gone and commuters can't afford those prices anymore with todays gas expenses. Houses aren't selling, so they're getting forclosed on.

I don't live in SJ county, but from the back of my property I can throw a rock into it. Sadly, the housing problems don't stop at the county line.

[Adsos Letter]

17. Please...

...don't go starting a stone-throwing war with SJ county...think of the children...

:D

[NuttyFluffers]

20. i never understood the housing explosion all over

one would think eventually 2-4 hour commutes would get old. one would think city planning is a good thing, i.e. all residential + strip malls = no core stability to the community. i've noticed a repeated pattern of ridiculous, uncontrolled growth in these outlier boonievilles w/ mcmansions. interestingly enough, far too many of these residents have personalities to match -- ridiculous, uncontrolled, outlier-type personality consumers. stockton could've invested in controlled management of their city instead of being fresno redux, a.k.a. 3,000 sq.ft. home mclife w/ 6 hour round trip commutes...

[lovuian]

10. California was a place where Housing prices were outrageous

its just incredibly expensive

this isn't just a housing bubble
this is wages of people can't keep up with inflation

this is a sign of Major Recession

[CountAllVotes]

14. do you know Stockton, CA at all?

I do. My cousin lived there and died there. It was always thought of as being a "dump" of a town - hotter than hell and nothing to do. And yes, it was also very cheap to live there at one time and never was particularly desirable compared to other parts of the Golden State.

[natrat]

12. yea and in the bay area no forclosure spike and i will never afford a nice house whaaa whaaa

[fed-up]

19. CNN's story on the foreclosure numbers-CA has 7 of top 10 metro areas

I wonder when Chico's numbers will start to climb, at one point during the upward ride for housing prices Chico's went up 46% in ONE year alone!!!

http://money.cnn.com/2007/08/14/real_estate/California_cities_lead_foreclosure/?postversion=2007081411

California cities fill top 10 foreclosure list
Stockton, Calif. records highest foreclosure rate among nation's metro areas according to a new survey.

...snip
Seven of the nation's top 10 metro areas are in the Sun Belt. Only three are in economically hard-hit areas, historically the kinds of places that once produced the highest rates of foreclosure filings.

Stockton recorded one foreclosure filing for every 27 households during the six months ended June 30, a 256 percent increase compared with the first six months of 2006.

Number two in the nation was Detroit, where job losses in the auto industry drove foreclosures higher. One of every 29 households recorded a foreclosure filing there, almost double the rate of a year ago. Las Vegas (one of 31, up 142 percent) was third.

The other California cities in the top 10 were Riverside/San Bernardino (one in 33, up 198 percent), Sacramento (one in 36, up 231 percent) and Bakersfield (one in 47, up 222 percent).






I have a pic of my Grandma's Great Grandpa (or something close to that) in front of a horse/buggy in front of a nice old house in Stockton in the late 1860's.

Also my Gma's gpa (Michael Crowell) died in an explosion at the Stockton Channel along with a 14 others when they were watching some type of demonstration with a propeller pump in the 1879. Fortunately the rest of the family then moved to San Francisco. SOmeday I will have enough extra cash to get a copy of the original paper.

http://archiver.rootsweb.com/th/read/NORCAL/2002-12/1039824327

Dreadful Calamity!
Explosion of a Steam Boiler on a Public Street!

Fifteen Persons Killed and 39 injured!
List of the killed & wonded!

NOTE: It's a long article, so I will only highlight here.. I do intend to
put this story on my website (hoping for this lifetime).

Last Saturday at 2:30 pm several hundred persons gathered on El Dorado
street bridge,at the head of Stockton channel, to witness the trial of a
newly patented propeller pump. Some were present out of mere curiosity,
others because of their friendship for th epatentees, and hoping that the
new invention might prove to be a grand success, while others were in
attendance for the purpose of judging of the practical test with a view of
utilizing the new patent on their farms in the event of the trial proving
satisfactory. The pump was placed perpendicularly in the water a short
distance from the northwest corner of the bridge, with a spout or trough
consierably larger than an ordinary sluce-box used by miners, leading from
the pump a few feet to show to spectators the volume of water raised. A
short distance from the pump and nearer to the middle of the bridge, the
portable engine that was to supply the power was plced. The engine was in
charge of Mr E. F. AVERY, one of the patentees of the invention. While
assembled spectators were anxiously awaiting the commencement of operations,
and not imagining that they were in the least danger, the engine suddenly
exploded, INSTANTLY KILLING 15 PERSONS, And seriously wounding many more.

NOTE: The reporter goes on to describe the horrid sight of mutilated bodies,
etc... (must have been paid by the word back then)... I will now list the
dead & wounded. Marge

All died Feb 22, 1879 in Stockton, unless another date given:

Michael CROWELL, native of Galway, Ireland, age 41

[kineneb]

24. Chico has the college

which always skews the RE market. Even in bad times, students need a place to stay. My friends laugh when I tell them I used to live on Normal Ave.

CSUC, class of 1981

[fed-up]

25. I am wanting to move to Mulberry St-just like in Dr. Seuss's book :) nt

[Gormy Cuss]

28. That's in Springfield, Mass.

Relatively cheap area for that part of New England.

[PassingFair]

22. Every day there is a new "Worst City, State, County, etc." for foreclosures...

I've seen one or two "worst" area threads just today.

Is it changing minute by minute, or are towns and
counties VYING for this title?

[Bo]

26. Greedy Builders + Sub-prime hybrid loans = economic disaster

lolololololololol....

[Gormy Cuss]

27. Here I thought it was bad in my county @ 1 in 198.

I live in Contra Costa and the foreclosure rate is driven by three communities -- the big city of Richmond and the two smaller east county cities that were low cost, too far for commuting areas even 10 years ago. The rest of the county is in much better shape but the foreclosures are increasing but sales are steady albeit a bit slower than they were a few years ago.

Here's the next stage of bad news on the real estate front: even good credit candidates are having trouble securing loans unless they're putting down 20%.
http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2007/08/15/MNI3RHTDO.DTL