Southern California Mortgage Crisis

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“It’s Your Call” KVCR TV – Crisis Overview

3. June 2009

Broadcast 6/5/09 - Watch KVCR host Roger Bowman discuss the mortgage crisis with Dr. John Husing, one of Southern California's leading economists, and Robert Hooker, the executive director of the Inland Empire Economic Recovery Corporation. The two guests assess the state of the crisis in the Southern California region and answer questions from viewers about foreclosure prevention. WATCH HERE

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The median price for an existing, single-family detached house in California declined 30 percent to $267,570 -CA Assoc. of Realtors [#]
California ranked highest nationally in the overall number of foreclosure filings in May, totaling 92,249, according to RealtyTrac. [#]
Survey by U of Michigan reports 77% of homeowners in West experienced value declines, the nation's highest rate, compared to 51% in South. [#]
As of today, California is imposing a 90-day foreclosure moratorium. It's the California Foreclosure Prevention Act. [#]
The number of foreclosures filed in May was so high as to make May the third highest month on record. [#]

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