Foreclosures keep spiking

The foreclosure rate rises almost to 1985 levels. How much worse can it get?

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In the first three months of 2009, Oregon’s foreclosure rate reached 2.21%. That’s a rate not seen in 30 years, and it is expected to continue rising.

While Oregon is doing better than California it is worth pointing out that we are now experiencing foreclosures at the same rate that California did 18 months ago. I don’t think Oregon’s foreclosure rate will end up as bad as California’s but given the fact that we trail the nation by about a year I think we are still in for more bad news.

Read the full post in the Portland Housing Blog.

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