Dr. Delores Conway, director of the Casden Real Estate Economics Forecast at the USC Lusk Center for Real Estate, is quoted in the May 13, 2009 edition of the Whittier Daily News:
California foreclosure activity continues surge
Whittier Daily News
By Ryan Carter
...The number of home foreclosures surged again in April as banks newly freed from national moratoriums once again cracked down on delinquent owners. Banks filed foreclosure notices on 96,560 California homeowners in April, which comes to one in every 138 households. That was up 42 percent from the same month last year, according to Irvine-based RealtyTrac, a foreclosure listing firm...
...California's unemployment rate is near 12 percent, and banks are only slowly releasing foreclosed properties onto the market. "They don't want to saturate the inventory," said Delores Conway, director of the Casden Real Estate Economics Forecast at USC...
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May 13, 2009