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The Realities of a Recession

By
Real Estate Agent with Surterre Properties

ORANGE COUNTY 

 

Population: 3,121,251 

Unemployment rate: 6% 

Foreclosure filings Jan-Nov 2008: 42,995 (1 per every 24 households) 

Local Contact: John Moorlach, Supervisor Chair, County of Orange 

Boxer Staff Member: Gina Semenza 

Date Contacted: December 3, 2008  

 

 

Orange County is experiencing reduced State funding, property values, and sales tax revenue. In 

December, the County disclosed plans to lay off 210 social service jobs along with mandating 

over 4,000 additional workers to take two weeks off with out pay as a direct result of anticipated 

reduction in State funding.  Targeted employees are social workers and welfare eligibility 

technicians, whose work directly impacts the neediest individuals and families.   

 

The County does not yet know the extent of recent tax loss, but the County Treasurer’s office has 

noticed a significant increase in the use of multiple credit cards to make one property tax 

payment.  The existing tax base is shrinking because of a slowdown with commercial buildings 

and a lack of new properties being built.  The County does not report any significant increase in 

crime or code violations as a result of foreclosed and empty properties.   

 

 

Nancy & Heather Cloward


Prudential California Realty

Direct: 949-495-2819 or 949-228-4523

Nancy@NancyCloward.com or Heather@HeatherCloward.com

Comments(1)

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Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Heather and Nancy - Your statistics speak for themselves about the pain that is out there.  Somehow, I think we will begin to see things improve in the second half of 2009.

Dec 24, 2008 07:07 AM