Californians Reaping What They Have Sown
Liberals in California who over extended themselves hoping that the government would bail them out are in trouble. But those on the left coast have always had little concern for the future and often believe in living in thw now. And now lots of them are going to lose their homes.
The number of California homes lost to foreclosure in the first quarter surged 327% from year-ago levels — reaching an average of more than 500 foreclosures per day — DataQuick said in a report warning that the widening foreclosure problem could “spread beyond the current categories of dicey mortgages, and into mainstream home loans.”
From DataQuick’s report on California foreclosures in the first three months of 2008: “Trustees Deeds recorded, or the actual loss of a home to foreclosure, totaled 47,171 during the first quarter. … Last quarter’s total rose 48.9 percent from 31,676 in the previous quarter, and jumped 327.6 percent from 11,032 in first quarter 2007.” That translates into 517 foreclosures every day in the first quarter of 2008.
It’s really hard to feel sorry for Californians who, as a whole, have set up themselves and their state for such failures. There is no free lunch and many Californians are now learning that hard truth. In the future we can only hope they learn their lesson that only the government can go into debt and never have to worry about the collection agent coming to ask for their money.
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