Californians Screwing Up Housing Market
Really it comes as no surprise at all that California, where nearly everyone has their hand out looking for government help, is the epicenter of the housing crisis:
Breaking: DataQuick reports today that foreclosures in California soared 33% from the first quarter to the second quarter of 2008, and are running 261% ahead of year-ago levels.
More, from DataQuick: “Lenders started foreclosure proceedings on a record number of California homeowners last quarter, the result of declining home values and the rampant spoilage of a batch of especially risky home loans made in late 2005 and 2006.”
A couple weeks ago I wondered if we could just kick California out of the union to help save it from idiots pushing big government to protect them from themselves. Today I renew that call.
America would be much better if California left the union. Perhaps we should contact Mexico and ask them how much they will give us for the whole State.
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