I know the foreclosure problem is all the media’s fault for writing about it instead of just ignoring it and watching it go away, but here’s an interesting update from California:

The number of California homes lost to foreclosure in the first quarter surged 327% from year-ago levels — reaching an average of more than 500 foreclosures per day — DataQuick said in a report, warning that the widening foreclosure problem could “spread beyond the current categories of dicey mortgages, and into mainstream home loans.”