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California Foreclosures Rocket to 20-Year High

The AP reports that, as the headline here indicates, CA foreclosure rates are at the highest they've been in 20 years. In the fourth quarter, a total of 31,676 homes went into foreclosure. 81,550 default notices were delivered as well. The current rate reflects a 30.8% increase since last quarter, and a 421.2% (no typo) jump since the same quarter in 2006. Damn.