California Foreclosures Drop To 7-Year Low - Los Angeles News | FOX 11 LA KTTV

Saving the California Dream

California Foreclosures Drop To 7-Year Low

Posted: Updated:
Los Angeles, CA -

(FOX 11) A DataQuick research firm report shows good news for California's housing market, as default notices drop to a 7-year low.

The company credits an improving housing market, California's tough new regulations ("California Homeowner Bill of Rights") and an improving economy.

But FOX 11's financial analyst, Neeraj Chaudhary, credits a "mini bubble."

He tells investigative producer Heidi Cuda that with "real" unemployment numbers still high, California's woes are not over.

"Ultimately, we're creating a mini bubble like we had several years ago based on very low interest rates," says Chaudhary, an investment consultant with Euro Pacific Capital. "It's not gonna be sustained because the real economy is basically in a depression. There's very high unemployment, above 20 percent when you look at the underemployed and discouraged workers who've stopped looking. When people don't have income, they can't buy a piece of property."

 

 

 

 

  • FeaturesMore>>

  • Midday Sunday

    LA City Council Member Tom LaBonge

    LA City Council Member Tom LaBonge

    Sunday, August 31 2014 12:00 PM EDT2014-08-31 16:00:21 GMT
    Today's guest is Tom LaBonge, the Los Angeles City Council member representing Council District 4.  Mr. LaBonge is a native Angeleno, born and raised in the Silver Lake District. 
    Today's guest is Tom LaBonge, the Los Angeles City Council member representing Council District 4.  Mr. LaBonge is a native Angeleno, born and raised in the Silver Lake District. 
  • Wednesday's Child

    Julissa Strives For The Award Of A Loving Family

    Julissa Strives For The Award Of A Loving Family

    Thursday, August 28 2014 2:06 PM EDT2014-08-28 18:06:45 GMT
    Just days before this week's Emmy awards show, this week's Wednesday's Child Julissa (1998) got a chance to shine as she walked the red carpet at the Doris Bergman Pre-Emmy Gifting Event.
    Just days before this week's Emmy awards show, this week's Wednesday's Child Julissa (1998) got a chance to shine as she walked the red carpet at the Doris Bergman Pre-Emmy Gifting Event.
  • Midday Sunday with Tony Valdez

    Lisa See: China Dolls

    Lisa See: China Dolls

    Sunday, August 24 2014 12:00 PM EDT2014-08-24 16:00:21 GMT
    Lisa See's new book 'China Dolls' continues her tradition of writing novels that are a touchstone for the Chinese-American experience. The Los Angeles author's ninth book focuses on the experiences of three young Asian women working in San Francisco night club called The Forbidden City before the beginning of World War II.
    Lisa See's new book 'China Dolls' continues her tradition of writing novels that are a touchstone for the Chinese-American experience. The Los Angeles author's ninth book focuses on the experiences of three young Asian women working in San Francisco night club called The Forbidden City before the beginning of World War II.
  • Studio 11 LA FeaturesMore>>

  • Porscha-Diva on Wheels Needs a FURever home!

    Porscha-Diva on Wheels Needs a FURever home!

    Tuesday, September 2 2014 1:16 AM EDT2014-09-02 05:16:08 GMT
    Joining us on Studio 1 LA today are founders of Saving K9 Lives, Jasmin Gabay, and her husband Bobby Kimball. We also have Porscha-Diva, who is in need of a forever home.Porscha was dumped at East Valley shelter because her owners could no longer take care of her.
    Joining us on Studio 1 LA today are the founders of Saving K9 Lives, Jasmin Gabay, and her husband Bobby Kimball. We also have Porscha-Diva, who is in need of a forever home.Porscha was dumped at East Valley shelter because her owners could no longer take care of her.
Powered by WorldNow

KTTV FOX 11
1999 S. Bundy Dr.
Los Angeles CA 90025

Main: (310) 584-2000
News Tips? (310) 584-2025

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices