In California, nearly 59% of residents are still recovering from the financial setback of the pandemic in the wake of its economically devastating disruption, according to Hometap. Today, you may properly relate to the toll taking place in 2023 as the Fed fights to correct the current surge in consumer inflation flowing from the pandemic-driven stimulus bridge, etc.
While mortgage delinquencies in California reached a historical low between 2021 and 2022, they have reversed and are now climbing, up from November 2021:
- 0.7% in Los Angeles-Long Beach-Anaheim; and
- 0.4% in San Francisco-Oakland-Hayward, according to Core Logic.
This article originally appeared on firsttuesday Journal. Read the full article here.