In Orange County bankruptcy filings are up 67 percent.  In August individuals and businesses filed for bankruptcy a massive increase over the numbers reported August of 2008.  Filings in Orange County up slightly form July. 

The up tick in bankruptcy filings reflects the rising number of bankruptcy for businesses as well as the consumer's who are having trouble with mortgages and unemployment.    You will note the increase in retail and commercial vacancies all over the county.

The bankruptcy filings going up does not help the discussion that the economy is getting better.  This is a sign that there are some more negatives to shake out of the economy before we will see this area get better.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

www.markandtim.com

949-874-2247

 
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4 Comments on Bankruptcy Filings Up

OCT
11
2009
1,652,081 Points 134 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I guess this stat goes right along with increased number of foreclosures, etc?
8:06pm • #1
OCT
12
2009
462,437 Points 2 Featured Posts Outside Blog

The snowball effect. It's going to get worse before it gets better.
7:36pm • #2
OCT
19
2009
1,927,726 Points 155 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Another reason government doesn't get it. You local government raised the taxes on these businesses because they were short on money because they spent, spent and spent some more. So instead of tightening their belts and cutting programs, they taxed business. These businesses couldn't afford to keep their doors open and now they get no tax money at all and the unemployment rate goes up yet again. When are you going to figure it out government that the problem is you and not us not paying enough?

 Todd Clark - www.LivingBeaverton.com
6:56am • #3
515,816 Points Outside Blog Called Shot Master

Todd I agree government is making it worse.  Has anyone though about what we should do when the unemployment keeps increasing because small businesses get priced out of the market.  We want to tax the rich but that ends up the people running the businesses.
8:59am • #4


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Tim Lorenz - 949 874-2247

Mission Viejo, CA

More about me…

TIM LORENZ of Keller Williams Realty

Address: 27101 Puerta Real, Suite 150, Mission Viejo, CA, 92691

Office Phone: (949) 282-2521

Cell Phone: (949) 874-2247

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A real estate professional and investor for over 43 yrs look at the market, the laws, the trends and the condition of the market. A runing commentary of one persons professional's opinion.


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