Wow! That was some chart. Did you see the yearly default numbers for 1982? Scary. I mean back in 1982 how many houses were there?
The figure I found was about 321,000 housing units in 1980.
Therefore, the rate of foreclosure in 1983 was 321,000 (housing units in SD county in 1980) divided by 4071 ( foreclosures in 1983 from Innovest’s site) which yields 1 foreclosure for every 78 housing units.
I chose 1983 instead of 1982 because foreclosures appeared to be a little worse in 1983. Let’s compare that to San Diego county today.
The rate of foreclosure is 1,125,827 (housing units in SD county in 2006) divided by 13932 (March 2008’s 1161 foreclosures x 12) which yields 1 foreclosure for every 80 housing units.
1 in 78 houses foreclosed on in 1983.
1 in 80 houses foreclosed on in 2008 (projection).
