Foreclosures up 10x in 10 years but the last 2 where a doozey!!!

Last Sunday in my local paper there was front page article about the fact that local foreclosures has raised nearly 11 times the amount it was in 1998. As you can see from the graph below there was a big jump in the year 2005.







Yes as you can tell the numbers of foreclosures has always been on the raise during that the last 10 years but the fact that it has made such a steep curve in 05 has to show that something abnormal happened to lead to this.