Foreclosures spiked up during the first quarter of 2010. California accounted for nearly 25% of all foreclosures, according to Yahoo! Finance. California’s statewide 90-day moratorium on foreclosures pushed many into 2010. If that’s the main driver there should be a similar rate (1 in 62 properties) or even an increase during the second quarter. Nationwide, high unemployment has been pushing many homeowners over the edge. This doesn’t bode well for any economic recovery in 2010.
