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Housing Crisis still on an Upward Climb
April 29, 2008

Monday, April 28, 2008 a research study showed that U.S. homes heading for foreclosure more than doubled in the first quarter of 2008 from a year earlier, as weakening property values and tighter lending has left many homeowners powerless to preventing their homes from being auctioned to the highest bidder.

Among some of the hardest hit states were Nevada, Florida and, in particular, California, where Stockton led the nation with a foreclosure rate that was 6.6 times the national average, Irvine, Calif.-based RealtyTrac Inc. said.

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