I think OPEC overpriced oil so that it affected the global market. And no one was buying anything, or going anywhere. Business was way down in many sectors. That is what started this whole mess. There are always home foreclosures. That is not new.
The number of foreclosures are concentrated in about five states: California, Arizona, Florida, North Carolina, and [Nevada?]. I see foreclosures all over the place here in Fresno. It’s sad.