[K Wave Rider]

Bay Area home foreclosures surge

The company says it's long seen a linkage between the level of foreclosure activity and shrinking equity growth in housing markets. Other factors may be in play as well, it says, including annual negative job growth of about 3 percent in Northern California metros and California's economic growth of 1.7 percent, well below the 2003 projection of 2.7 percent for the nation as a whole by economists of the National Association of Realtors.

"These numbers just won't support double-digit price appreciation much longer," Ms. McGee says.


Silicon Valley woes push homes into foreclosure

The number of homes in Santa Clara County, the heart of Silicon Valley, that entered the foreclosure process in 2002 jumped 70% from the year before to 2,729 — the most since 1997