“Foreclosure sales accounted for 43 percent of all property sales in California in the second quarter, the third-highest percentage among all states, according to figures released today by Irvine-based foreclosure analyst RealtyTrac. In the April-to-June period, 62,492 California properties in some stage of foreclosure were sold. Nevada topped the nation at 56 percent, followed by Arizona at 47 percent.”
When the dust settles from this mess, and clearly we are nowhere near done, what will be left? Entire generations are being wiped out never to recover financially.