See No Evil Seeking Alpha has a bubble tracker and round up. Remarkably people who have a vested interest in saying things are GREAT continue to do so. Here's a great one from Idaho, ""Sales of single-family homes in the Treasure Valley in January were off 27% from Jan. 2006," yet according to Don Hubble of Hubble Homes, "We're optimistc." Talk about cognative dissonance.

Here's another report - this time in California in the Central Valley with an expert saying the housing bubble has adjusted

"The foreclosure market in California and the nation in 2007 may not be quite as intense as it was last year but many home buyers who used creative financing to get into their homes are still in danger of foreclosure, says Serdar Bankaci, founder and president of Default Research Inc. of Mt. Pleasant, Pa."

Look at that lead... "may not be quite as intense"? Based on what data? Let's take a t the actual data. Here's a great post at the OC Register
"RealtyTrac from Irvine reports ....

"California’s foreclosure total of 14,430 was the nation’s second highest and represented a 14 percent increase from the previous month. The state’s foreclosure rate of one new foreclosure filing for every 846 households registered slightly above the national average and 14th highest among the states."

So instead of cooling down - the foreclosure rate is actaully INCREASING in California.

Labels: CA, California, Foreclosure, Mortgage, rateinJanuary

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