You need to read the report before you attack the messenger. 67% was stated as the increase over the previous year. "Year to year" means "over the year before."
1.I read it. 2.I know what year over year means 3.The 67% is still meaningless unless attached to a hard number from the year before. If the previous years foreclosures number only 100 then the increase of 67 more is hardly important because it is a small number. Then we should know how many of the actual foreclosures were investment (spec) properties and how many were homes bought to reside within. Also CA is among the hottest of the RE markets so a correction is almost guaranteed. This correction will lower the price of the properties and make them more affordable. This correction is nothing more then a case of the supply demand structure being out of whack due to soaring prices of the commodity involved. When prices get super high more and more properties flood the market which allows the potential buyers a much greater choice and swings the power from seller, where it was, to the buyer where it is now.
5 this year versus 3 last year is also a 67% increase. Percentage is only meaningful when compared to a base number to provide scale.