New statistics indicate that the effect of the nationwide housing crisis on our region will continue to get worse before it gets better. Since the beginning of 2007, more than 20,000 homes in Amador, El Dorado, Nevada, Placer, Sacramento, Sutter, Yolo and Yuba counties have been handed back to the banks. In Sacramento County, which has seen more than 15,000 foreclosures in the past 18 months, Sheriff's Department officials say as many as 100 eviction requests that originate with banks reclaiming homes now cross their desks each month. Said one Sacramento housing authority representative: “Make every effort to stay spendthrift while our economy struggles through tough times. If everyone plays a part in helping others, we can find a way through this.”
Tuesday, 08 July 2008 03:26
Housing Crisis: Worse Before Better
New statistics indicate that the effect of the nationwide housing crisis on our region will continue to get worse before it gets better. Since the beginning of 2007, more than 20,000 homes in Amador, El Dorado, Nevada, Placer, Sacramento, Sutter, Yolo and Yuba counties have been handed back to the banks. In Sacramento County, which has seen more than 15,000 foreclosures in the past 18 months, Sheriff's Department officials say as many as 100 eviction requests that originate with banks reclaiming homes now cross their desks each month. Said one Sacramento housing authority representative: “Make every effort to stay spendthrift while our economy struggles through tough times. If everyone plays a part in helping others, we can find a way through this.”
