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Calif. Foreclosures Set Record

Second-quarter figures reveal housing slump worse than '96 skid

By Sam Biddle,  Newser Staff

Posted Jul 24, 2007 5:56 PM CDT

(Newser) – Reflecting the increasingly gloomy picture across the country, residential foreclosures in California were up 799% in the second quarter compared to the same time last year, the LA Times reports. Stricter lending practices and the reeling housing market contributed to the record high 17,408...   Read full story »

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