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Bakersfield now No. 8 in foreclosures
| Wednesday, May 14 2008 2:00 AM
Last Updated: Wednesday, May 14 2008 7:46 AM
The number of foreclosure filings per household in the Bakersfield metropolitan statistical area continues to be among the nation’s highest, according to a report released today by RealtyTrac, an Irvine-based company that tracks foreclosures.
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Six California metro areas ranked in the top 10 for their foreclosure rate, including Bakersfield at No. 8, RealtyTrac reports.
High foreclosure rates put downward pressure on home values, bloat sales inventories and threaten municipal budgets, the report states.