Bankruptcies, Foreclosures Hit 4-Year High In CA: Report

CALIFORNIA — Bankruptcies and foreclosures are at their highest rates in California since 2020, according to Southern California News Group business columnist Jonathan Lansner.

Citing a quarterly analysis by the Federal Reserve Bank of New York examining bill-paying habits in several states, including California, Lansner reported that in 2024’s second quarter 40 personal bankruptcies were being filed and 12 foreclosures were being entered per 1,000 people.

The bankruptcy number was the highest it’s been since the second quarter of 2020 and the foreclosure number was at its highest since the first quarter of the same year, according to Lansner.

But that’s not the whole story, Lansnser reported, noting bankruptcies in the state were 29 percent less than average filings in 2018 and 2019, and foreclosures were 23 percent lower than during those pre-coronavirus years.

Read more from Jonathan Lansner.