More Americans Losing Their Homes

The most hard-hit states were California, Nevada, and Florida. Here are some sad facts on the impact in California:
California led the nation in the sheer volume of filings, with nearly 72,000 properties in some stage of default, which works out to one out of every 183 households. More than 20,000 Californians lost their homes, more than any other state
Granted, not all of these folks will end up homeless. Most will simply re-enter the rental market. But with the demand for rental units increasing, the laws of “supply and demand” result in the increase in the price of rents. Those who struggle to simply pay rent, have a higher chance of being homeless.
This whole mortgage calamity is becoming a downward slide toward an increase of homelessness.
(Pic from http://blog.ewm.com)







