hmm, statewide, NODs are are 21K per quarter. Historical average is 32K/quarter. Peak in ’96 was 59K.
We went from 12K to 20K in one year as the market turned. The peak of 59K was at the end of the last bust cycle after 6 years of falling prices. If I was in Vegas, I’d wager we’ll beat the 59K Q1 of 2007.
LA Times Article on quarterly defaults Thurday, link
