Take Two for October 25, 2012

Home foreclosures on the decline in California, but for how long?

Richmond, CA Hit Hard By Foreclosures

Justin Sullivan/Getty Images

A worker removes furniture from a foreclosed home before the start of a bus tour of foreclosed and blighted properties on July 13, 2012 in Richmond, California. Members of the group Alliance of Californians for Community Empowerment (ACCE) joined city officials and Richmond mayor Gayle McLaughlin on a bus tour to view foreclosed properties in neighborhoods in Richmond that have been hit the hardest by foreclosures. Richmond currently has over 1,000 homes in foreclosure.

A new RealtyTrac survey shows home foreclosures in Los Angeles have dropped to their lowest levels in five years. Prices are starting to firm up too.

We turn to KPCC’s Matt DeBord to find out if this is a turning point, or maybe just another false start on the road to a housing recovery.

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