Foreclosure is running rampant in Northern California. What now for troubled residents?
In this countrys uncertain economy, with sub-prime real estate meltdowns and rising gas prices, it is no wonder that American consumers are looking for some financial refuge when it comes to either short term or long term security. This especially rings true in our nations housing arena.
The foreclosure ratio has increased dramatically in the San Francisco Bay and Sacramento areas. This means good people and their real estate values are being negatively affected due to crippling market conditions. This in turn, floods the market with properties that dont sell. Although, someone could say it is a buyers market, and that would be true. But what about the person that is in foreclosure? They cant mortgage a property. What are their options?
I suppose they could rent an apartment. This could be a very pricey option in the San Francisco Bay (including the east bay) and Sacramento areas. For example, research shows that: as of 12/07 the rental markets in these large areas are down (Excluding San Francisco Proper).
Learning this, I researched further and discovered...
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