California Home Prices Steadily Falling And Foreclosures Rising

ALTADENA, CA - MARCH 27: An auction signs stands in the yard of a house to be sold on March 27, 2008 in Altadena, California. Houses are being prepared for an 11-day foreclosure auction of more than 1500 southern California homes. Cleaning up foreclosed properties is full-time work as home foreclosures boom in the wake of the sub-prime loan crises, leading to abandoned and run-down properties that suppress neighboring home values and lower property tax revenues. Sub-prime loans make up 14% of total mortgages and about 60% of foreclosures. (Photo by David McNew/Getty Images)
ALTADENA, CA - MARCH 27: An auction signs stands in the yard of a house to be sold on March 27, 2008 in Altadena, California. Houses are being prepared for an 11-day foreclosure auction of more than 1500 southern California homes. Cleaning up foreclosed properties is full-time work as home foreclosures boom in the wake of the sub-prime loan crises, leading to abandoned and run-down properties that suppress neighboring home values and lower property tax revenues. Sub-prime loans make up 14% of total mortgages and about 60% of foreclosures. (Photo by David McNew/Getty Images)
California Home Prices Steadily Falling And Foreclosures Rising
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Credit:
David McNew / Staff
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80401055
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Getty Images News
Date created:
27 March, 2008
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Getty Images North America
Object name:
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