Home prices also fell.
This is still ugly.
* * * * * J B K * * * * *
San Francisco
Rising foreclosures are the main threat to a sustained housing recovery. A record 3 million U.S. homes will be repossessed by lenders this year as unemployment and depressed home values leave borrowers unable to make their house payment or sell, according to a RealtyTrac Inc. forecast last month. Last year there were 2.82 million foreclosures, the most since the Irvine, California-based company began compiling data in 2005.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aHbZ6tSN73jM&pos=3
