It’s Monday, and we are waiting to see if the markets continue to hammered this week. In the meantime, here’s a new glimpse into the fraud that helped bring on this collapse: [Thank you Vegas RE] So just how extensive was the fraud anyway? Feel free to chime in with your four cents worth [Trite phrase adjusted for inflation.] or share your links ideas and stories- anything housing related. This is an open thread, so the floor [or whatever you happen to be on at the moment] is yours.
Foreclosures are up in the Phoenix area- way, way, up. Last June Doom looked at the Notice of Trustee Sales [NOTs] and Cancellation of Notice of Trustee Sales [CNOTs] issued in Maricopa County. [Phoenix area] Our data includes both residential and commercial property. There was a record 2325 NOTs issued is June 2007. As of last Frday, there were 6668 NOTs issued in Maricopa County for the month of June, and there is still one business day left. At the height of the S&L crisis in the 1980s, the record month for NOTs was March 1988 when 1431 NOTs were…
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