Foreclosures explode in CA

As expected, foreclosures are going through the roof here in CA, and the Bay Area isn't immune. I had a great conversation with some business school friends last night about the housing market, and my point of view is that things will actually continue to get worse before they get better.

Here is the story from the SF Chronicle that details the most recent stats.

Here is the image from the story... it goes without saying that this picture is worth more than a thousand words: