I actually talked to a person who said “there isn’t a foreclosure problem”

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I spend some time on Active Rain, its like a MySpace for real estate professionals (if you can imagine); it’s a good way to meet people in my industry, blah, blah. I like it, but some of the people on there are the type that drive me crazy with their thinking (who would have thought!?!?!). I actually had a guy tell me yesterday that paraphrasing here: "foreclosures are not a problem"

I went nuts, but felt why try to fight a battle with someone who doesn’t get it. But then the the April foreclosure report from RealtyTrac (sub req’d) comes out with the following (hat tip Matt at the OC Register):

â?¢ Nationwide "a total of 147,708 foreclosure filings â?? default notices, auction sale notices and bank repossessions â?? were reported during the month, down about 1 percent from the previous month but up 62 percent from April 2006. The report also shows a national foreclosure rate of one foreclosure filing for every 783 U.S. households during the month."

â?¢ California, with 30,505 foreclosure filings reported in April, "documented the largest foreclosure total of any state for the fourth month in a row. The stateâ??s foreclosure activity decreased about 3 percent from the previous month but was up more than 200 percent from April 2006, resulting in a foreclosure rate of one foreclosure filing for every 400 households â?? fourth highest among the states and nearly twice the national average."

If this doesn’t point to a problem, than I don’t know what does.