1:27 houses in foreclosure in Stockton, CA

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  • DatingGold
    $6 PER EMAIL JOiN
    • Feb 2003
    • 13185

    #1

    1:27 houses in foreclosure in Stockton, CA

    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
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  • BlondeBecks
    Confirmed User
    • Mar 2007
    • 361

    #2
    YIKES !!! Scary stuff.

    HardcoreHotel.com

    Comment

    • billybathgate
      Confirmed User
      • Jan 2007
      • 483

      #3
      Originally posted by DatingGold
      amounting to more than 20,500 filings in Sacramento.
      scary .......
      ""

      Comment

      • Ice
        Confirmed User
        • Nov 2002
        • 26053

        #4
        We were just talking about this today. There are over 9000 houses up for grabs due to foreclosure in Sacramento
        Last edited by Ice; 08-15-2007, 10:42 PM.
        icq 1904905

        Comment

        • spunkmister
          Confirmed User
          • Jun 2006
          • 1362

          #5
          well with the prices of the average home in those parts being higher than the national average I'm not surprised...I lived in SF for almost 9 years and I know plenty of people who bought houses that they could barely afford...

          Comment

          • DateDoc
            Outside looking in.
            • Feb 2005
            • 14243

            #6
            some good deals will be out there soon

            Comment

            • tony299
              lurker
              • Aug 2002
              • 57021

              #7
              thats fucking crazy.

              Comment

              • spunkmister
                Confirmed User
                • Jun 2006
                • 1362

                #8
                Originally posted by BusterPorn
                some good deals will be out there soon
                true but people are gonna be wary of investing a lot into the housing market until they know if this is the end or just the beginning of the collapse.

                Comment

                • tical
                  Confirmed User
                  • Feb 2002
                  • 6504

                  #9
                  stockton is gonna turn into the ghetto it was meant to be
                  112.020.756

                  Comment

                  • Ice
                    Confirmed User
                    • Nov 2002
                    • 26053

                    #10
                    I live in a small town just outside Sacramento and there are over 1000 houses for sale due to foreclosure.

                    Fucking crazy
                    icq 1904905

                    Comment

                    • 96ukssob
                      So Fucking Banananananas
                      • Mar 2003
                      • 12991

                      #11
                      Originally posted by DatingGold
                      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
                      damn thats crazy. California is up like 800% from the last 5 years average. this is the worst year on record I heard.

                      Personally, i believe its because people went option arm or interest only loans and once the principal kicks in after 3,5 or 7 years they cant afford the payments.
                      Email: Clicky on Me

                      Comment

                      • Ice
                        Confirmed User
                        • Nov 2002
                        • 26053

                        #12
                        Originally posted by bossku69
                        damn thats crazy. California is up like 800% from the last 5 years average. this is the worst year on record I heard.

                        Personally, i believe its because people went option arm or interest only loans and once the principal kicks in after 3,5 or 7 years they cant afford the payments.
                        Almost all are buying with zero down.
                        icq 1904905

                        Comment

                        • GreyWolf
                          So Fucking Banned
                          • Jun 2007
                          • 2036

                          #13
                          This is probably just the tip of the economic iceberg showing in the distance.

                          It's an unknown entity, but estimates of around $300bn in loans could be at risk and likely there will be plug-pulling by the bankers/lenders to mortgage companies and more Chapter 11 filings.

                          Yesterday the Fed dumped another $3.5 bill into the banking system to keep some liquidity. So far they have dumped $71 billion since 9th-10th August - this is in the league of Fed support after 9/11.

                          All the other signs of economic problems already exist - eg tendency to use cards for basic needs like food, bill paying etc, and not for the traditional impulse buying - retailers are next on the hit list.

                          Overall - a very bleak economic outlook and most likely further reductions in dollar currency value which, in turn, is not helpful for costs of imports. It's a friggin economic horror story - but it started a long time ago

                          Comment

                          • pr0
                            rockin tha trailerpark
                            • May 2001
                            • 23088

                            #14
                            so would now be a good time to invest in stockton?
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                            Comment

                            • Ice
                              Confirmed User
                              • Nov 2002
                              • 26053

                              #15
                              Originally posted by pr0
                              so would now be a good time to invest in stockton?
                              Nope... the market is still going down. Buy now and lose money
                              icq 1904905

                              Comment

                              • Pornwolf
                                Drunk and Unruly
                                • Jan 2002
                                • 22712

                                #16
                                Next year is going to be great for those of us prepared to snap up deals.



                                Especially in places like NY and LA where property value isn't dipping as much as the rest of the country.
                                I've trusted my sites to them for over a decade...

                                Webair, bitches.

                                Comment

                                • baddog
                                  So Fucking Banned
                                  • Apr 2001
                                  • 107089

                                  #17
                                  Originally posted by tical
                                  stockton is gonna turn into the ghetto it was meant to be
                                  I kind of thought it already was one. I am guessing the bad parts of town outnumber the good parts.

                                  Comment

                                  • baddog
                                    So Fucking Banned
                                    • Apr 2001
                                    • 107089

                                    #18
                                    Originally posted by Ice
                                    Almost all are buying with zero down.
                                    I guess that explains why I did not have to prove any income when I volunteered 20%.

                                    Comment

                                    • g$$$
                                      Confirmed User
                                      • Mar 2007
                                      • 2807

                                      #19
                                      probably alot of homes along march lane...thats where my folks are from...
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                                      • Ice
                                        Confirmed User
                                        • Nov 2002
                                        • 26053

                                        #20
                                        Originally posted by baddog
                                        I guess that explains why I did not have to prove any income when I volunteered 20%.
                                        Considering you could buy a house with 0 down, no proof of income and no credit check... I'm not suprised
                                        icq 1904905

                                        Comment

                                        • baddog
                                          So Fucking Banned
                                          • Apr 2001
                                          • 107089

                                          #21
                                          Originally posted by GreyWolf
                                          All the other signs of economic problems already exist - eg tendency to use cards for basic needs like food, bill paying etc, and not for the traditional impulse buying - retailers are next on the hit list.
                                          I just started doing that . . . for the frequent flyer points. I did not intent to effect the country's financial outlook.

                                          Comment

                                          • Red Ezra
                                            redezra.com
                                            • May 2004
                                            • 4678

                                            #22
                                            people are struggling and no one in government seems to care - sad days ahead

                                            Comment

                                            • AsianDivaGirlsWebDude
                                              Purveyor, Fine Asian Porn
                                              • Jul 2004
                                              • 38323

                                              #23
                                              If you have ever passed through Stockton, you might seriously wonder who would ever want to buy property there?

                                              Stockton is a good place to be from - far from...

                                              All kidding aside, the foreclosure crisis is one more example of putting greed before people.

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                                              • xmas13
                                                Confirmed User
                                                • Dec 2004
                                                • 5176

                                                #24
                                                'struggling', my ass. Californians have been so arrogant, they got what they deserved. It's time for them to wake up. Game is over.

                                                American citizens have a NEGATIVE savings rate, the lowest since Depression.
                                                http://www.newsmax.com/archives/arti...1/193305.shtml

                                                "But back in 1932 and 1933, unemployment was rampant, and many families had to break the piggy bank just to keep food on the table. This time, the analysts are saying, Americans seem to be spending money they don't have just to maintain a lifestyle to which they've become accustomed."
                                                I can't wait for the economy to collapse. You produce nothing, you got nothing. It was not earned through hard work, it was easy 'paper' money.

                                                Now pay up bitches or give me your houses, my name is recession!
                                                ICQ 557504926

                                                Comment

                                                • GreyWolf
                                                  So Fucking Banned
                                                  • Jun 2007
                                                  • 2036

                                                  #25
                                                  Originally posted by pr0
                                                  so would now be a good time to invest in stockton?
                                                  Hehe.. you got a sense of humor pr0

                                                  Seriously... and only my , but suspect the damage will continue for a longish while yet before it hits bottom - could be five years, but only a guess.

                                                  The other major underlying economic problems are too big to ignore and they obviously will have a bearing on the ability of folks to buy homes etc. The core problems are a massive economic challenge and doubt there will be light at the end of the tunnel for around a decade - assuming action is taken to start resolving these now (else the whole situation gets even worse).
                                                  Last edited by GreyWolf; 08-15-2007, 11:58 PM.

                                                  Comment

                                                  • JFK
                                                    FUBAR the ORIGINATOR
                                                    • Jan 2002
                                                    • 67369

                                                    #26
                                                    Originally posted by Ice
                                                    Considering you could buy a house with 0 down, no proof of income and no credit check... I'm not suprised
                                                    there is hope for me yet

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                                                    • flashfire
                                                      ICQ 1 6 7 8 5 3 4 9 2
                                                      • Feb 2003
                                                      • 13098

                                                      #27
                                                      so could I get some sweet vacation property in cali soon?

                                                      Comment

                                                      • aico
                                                        Moo Moo Cow
                                                        • Mar 2004
                                                        • 14748

                                                        #28
                                                        at least we're safe from terrorists....

                                                        Comment

                                                        • flashfire
                                                          ICQ 1 6 7 8 5 3 4 9 2
                                                          • Feb 2003
                                                          • 13098

                                                          #29
                                                          Originally posted by flashfire
                                                          so could I get some sweet vacation property in cali soon?
                                                          cheap I mean....where?

                                                          Comment

                                                          • ~Ray
                                                            visit hardlinks.org
                                                            • Jun 2003
                                                            • 18361

                                                            #30
                                                            buy stockton, make movie, big boom, big profits, big bulldozer, big cleanup, big rebuild, big profits
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                                                            • After Shock Media
                                                              It's coming look busy
                                                              • Mar 2001
                                                              • 35299

                                                              #31
                                                              Originally posted by xmas13
                                                              'struggling', my ass. Californians have been so arrogant, they got what they deserved. It's time for them to wake up. Game is over.

                                                              American citizens have a NEGATIVE savings rate, the lowest since Depression.
                                                              http://www.newsmax.com/archives/arti...1/193305.shtml



                                                              I can't wait for the economy to collapse. You produce nothing, you got nothing. It was not earned through hard work, it was easy 'paper' money.

                                                              Now pay up bitches or give me your houses, my name is recession!
                                                              True that what you say about the typical Americans savings, however do not even pretend to think California does not produce anything. Hell take our state out of the US and not only would it be a world powerhouse, the majority of the US would be our bitch along with many other countries that depend on our exports of food.

                                                              [email protected] ICQ:135982156 AIM: Aftershockmed1a MSN: [email protected]

                                                              Comment

                                                              • AlienQ - BANNED FOR LIFE
                                                                best designer on GFY
                                                                • Mar 2003
                                                                • 30307

                                                                #32
                                                                Does not help that most of the good paying jobs accross almost all industrial and technology segments were lost to over sea's labor...

                                                                Comment

                                                                • After Shock Media
                                                                  It's coming look busy
                                                                  • Mar 2001
                                                                  • 35299

                                                                  #33
                                                                  My problem with Stockton is well it and most of the surrounding towns just straight up smell. Not to mention it is protected by dykes that are in serious need of repair and or replacement.

                                                                  [email protected] ICQ:135982156 AIM: Aftershockmed1a MSN: [email protected]

                                                                  Comment

                                                                  • JimmiDean
                                                                    Confirmed User
                                                                    • Nov 2004
                                                                    • 3433

                                                                    #34
                                                                    This is just a sign of things to come with those fucked we will lend anyone way to much mortgages.
                                                                    My God there's Porn on here!

                                                                    Still on the Beach !!!

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                                                                    • Bird
                                                                      Confirmed User
                                                                      • Jan 2005
                                                                      • 4365

                                                                      #35
                                                                      same shit in sacto and elk grove
                                                                      ICQ:268731675

                                                                      Comment

                                                                      • Bell
                                                                        Confirmed User
                                                                        • Nov 2001
                                                                        • 298

                                                                        #36
                                                                        That's scarry... 1 in 27
                                                                        Feel so bad for those folks...

                                                                        I think the foreclosures are getting bad all across the USA though...

                                                                        ~Bell (Patricia)
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                                                                        I have listed here:
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                                                                        • beemk
                                                                          CLICK HERE
                                                                          • Jan 2002
                                                                          • 20829

                                                                          #37
                                                                          my area is right behind stockton
                                                                          I host with Vacares

                                                                          Comment

                                                                          • Rochard
                                                                            Jägermeister Test Pilot
                                                                            • Dec 2001
                                                                            • 75762

                                                                            #38
                                                                            The housing market is bullshit. I bought a house in Phoenix for $220. Two years later it was worth $500k. Bam, take the money and run.

                                                                            How in the world can an average house double in value in two years? That's insane.

                                                                            Now I'm sort of on the flip side. The house I own has gone down in value. That's fine; I work from home so it doesn't matter where I live. In about six months I'll be ready to buy another house for an investment.
                                                                            Herschel Savage
                                                                            Brooklyn, NY

                                                                            Comment

                                                                            • StickyGreen
                                                                              .
                                                                              • Oct 2003
                                                                              • 13076

                                                                              #39
                                                                              Originally posted by After Shock Media
                                                                              Hell take our state out of the US and not only would it be a world powerhouse, the majority of the US would be our bitch along with many other countries that depend on our exports of food.
                                                                              Refer Cam Girls and Take Home 10% of Everything They Make For Life

                                                                              Comment

                                                                              • Neighbor
                                                                                Confirmed User
                                                                                • Nov 2005
                                                                                • 1511

                                                                                #40
                                                                                I am gonna buy a whole community in Vegas and call it "Jonnywood"

                                                                                Then when we have conventions, everyone gets keys to their own house for the show. And a complimentary bottle of Crystal...


                                                                                Whatcha think? LOL

                                                                                Comment

                                                                                • GreyWolf
                                                                                  So Fucking Banned
                                                                                  • Jun 2007
                                                                                  • 2036

                                                                                  #41
                                                                                  Another great day on the economic front - the Feds dumped yet more dollars into the banking system to keep liquidity - this time $17 bilion. So far this week the total is around $89 billion.

                                                                                  Good or bad news - Countrywide found a loan offer of $11.5 billion and, apparently, taking the full offer up to be able to continue day to day operations. Death can be slow or instant...

                                                                                  Comment

                                                                                  • GreyWolf
                                                                                    So Fucking Banned
                                                                                    • Jun 2007
                                                                                    • 2036

                                                                                    #42
                                                                                    Originally posted by adult_webmaster
                                                                                    I am gonna buy a whole community in Vegas and call it "Jonnywood"
                                                                                    Just don't borrow the money to buy it

                                                                                    Comment

                                                                                    • Neighbor
                                                                                      Confirmed User
                                                                                      • Nov 2005
                                                                                      • 1511

                                                                                      #43
                                                                                      never....cash deal only

                                                                                      Comment

                                                                                      • GAMEFINEST
                                                                                        Make STACK$
                                                                                        • Nov 2006
                                                                                        • 14470

                                                                                        #44
                                                                                        i live an hr from stoctkon....it does suck
                                                                                        Compound interest.

                                                                                        Comment

                                                                                        • teomaxxx
                                                                                          Confirmed User
                                                                                          • May 2003
                                                                                          • 2737

                                                                                          #45
                                                                                          Originally posted by GreyWolf
                                                                                          This is probably just the tip of the economic iceberg showing in the distance.

                                                                                          It's an unknown entity, but estimates of around $300bn in loans could be at risk and likely there will be plug-pulling by the bankers/lenders to mortgage companies and more Chapter 11 filings.

                                                                                          Yesterday the Fed dumped another $3.5 bill into the banking system to keep some liquidity. So far they have dumped $71 billion since 9th-10th August - this is in the league of Fed support after 9/11.

                                                                                          All the other signs of economic problems already exist - eg tendency to use cards for basic needs like food, bill paying etc, and not for the traditional impulse buying - retailers are next on the hit list.

                                                                                          Overall - a very bleak economic outlook and most likely further reductions in dollar currency value which, in turn, is not helpful for costs of imports. It's a friggin economic horror story - but it started a long time ago
                                                                                          There were rally in mortage and banking stocks yesterday, I really dont get it, the worst times are in the front us, so I have some put options and these fucks go up, like everything was ok.
                                                                                          Going to buy put option on JPM:

                                                                                          "Back in 1998, at the time of the last debacle, JPMorgan Chase, the world's largest player in the derivatives market, had $3.80 in credit risk for each dollar of capital.
                                                                                          That was already over the top, in my view.
                                                                                          And now, the OCC reports that JPMorgan Chase has a whopping $7.99 in credit risk per dollar of capital, or more than double its 1998 risk level!
                                                                                          HSBC, which was barely a player in the derivatives market back in 1998, now has $5.65 in credit risk per dollar of capital!
                                                                                          Citibank: $2.03 per dollar of capital in 1998; $4.60 today.
                                                                                          Bank of America: 90 cents on the dollar in 1998; $2.88 today.
                                                                                          Wachovia: Just 18 cents on the dollar in 1998; $1.56 today.
                                                                                          This means that ?
                                                                                          Even though Wachovia has the least exposure to derivatives among the top five, it is still extremely vulnerable ? with more at stake than its entire capital.
                                                                                          America's largest bank ? Bank of America ? is also embroiled up to its eyeballs, risking over FOUR times its capital.
                                                                                          And the single largest player in the derivatives market - JPMorgan Chase - is taking the most risk of all: EIGHT times its entire capital, according to the OCC's data. "

                                                                                          Comment

                                                                                          • GreyWolf
                                                                                            So Fucking Banned
                                                                                            • Jun 2007
                                                                                            • 2036

                                                                                            #46
                                                                                            Originally posted by teomaxxx
                                                                                            There were rally in mortage and banking stocks yesterday, I really dont get it, the worst times are in the front us, so I have some put options and these fucks go up, like everything was ok.
                                                                                            It's hard to trust any verbal that comes out of Wall Street. They have been hyping even before last year when it was blatantly obvious there were many problems rising at different levels. These are the same people who hyped the housing market - but more from a predatory angle. Greedy bastards

                                                                                            Earlier on CNN there were a few "financial spokespeople" (including Trump) voicing their views - again, all hype and "stay calm" bullshit. The exception was Trump who considered there was a long way to go and plenty problems yet to happen - inclined to agree, despite his hair

                                                                                            Asia took a fair hit yesterday and the Japanese govt injected $10.7 billion into the markets - even the Ozzie central bank intervened for the first time in six years. The London market has just opened with a slight upwards trend, but hope the day in all markets is not the same or worse than yesterday.

                                                                                            I'm no economist, but smell we are seeing ripples of the bigger US debt picture showing - and not just from the housing market. The overall foreign debt problem is a horror story, unsustainable, and very little evidence of a means to slowly clear this.

                                                                                            Comment

                                                                                            • who
                                                                                              So Fucking Banned
                                                                                              • Aug 2003
                                                                                              • 19593

                                                                                              #47
                                                                                              The Russians are going to own Sacremento soon.

                                                                                              Comment

                                                                                              • GreyWolf
                                                                                                So Fucking Banned
                                                                                                • Jun 2007
                                                                                                • 2036

                                                                                                #48
                                                                                                Originally posted by who
                                                                                                The Russians are going to own Sacremento soon.
                                                                                                China may own it before the Russians, cash down - then sell it to the Russians when they get their act together

                                                                                                Comment

                                                                                                • theS2O
                                                                                                  Adult Design Since 2003
                                                                                                  • Sep 2003
                                                                                                  • 4785

                                                                                                  #49
                                                                                                  damn.. i need to work hard more..
                                                                                                  Making Awesome Logos & Websites Since 2003!
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                                                                                                  • tASSy
                                                                                                    Spread The Pink!
                                                                                                    • Nov 2004
                                                                                                    • 8229

                                                                                                    #50
                                                                                                    Originally posted by Ice
                                                                                                    I live in a small town just outside Sacramento and there are over 1000 houses for sale due to foreclosure.

                                                                                                    Fucking crazy
                                                                                                    especially crazy considering that it's not close to much of anything major (sacto is not major) and the small towns are entirely cookie-cutter tract housing. the price people pay to live within even 2 hours of the SF bay area is ridiculous. don't bother trying to live here!

                                                                                                    tassy*PINK
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