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A blog about the economy and the Sacramento-area real estate market.

May 18, 2010
2009: Sacramento foreclosures touch nearly 20,000 renters

A new report says residential foreclosures touched the lives - and leases - of 19,791 Sacramento-area renters last year. They were among more than 200,000 renters statewide who had to move out after three months or at the end of their leases, according to a report by Tenants Together, a statewide renters' rights group.

The "2010 Report: California Renters in the Foreclosure Crisis," used data from Contra Costa County-based Foreclosure Radar to calculate an estimated 7,314 foreclosed rental properties last year in Amador, El Dorado, Nevada, Placer, Sacramento, Sutter, Yolo and Yuba counties.

The report said between 32 percent and 39 percent of foreclosed properties in the eight counties were occupied by renters.

The tenants group cited at least one major gain for renters during 2009: a new federal law giving tenants without leases 90 days to leave. New owners must let tenants with leases stay until the lease expires.

Tenants Together said foreclosures increased by 70 percent from 2008 to 2009 at apartment buildings with five or more units.

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