Just a point of reference.
In 1928, the foreclosure rate on owner-occupied housing broke 1%. Actually, it may have done it in 1927, but the Statistical Abstract Colonial times to 1970 only breaks out the number of homes owned on the decade (the 1xx0 years) , so the 91 thousand foreclosures may have been below the magic 1%. Of course, 1927 as about a 40% increase over the previous year.
So two danger inflections of note. 1927, when foreclosures spiked by about 40%. And 1928 when they broke 1% of all houses owned.
In 2006, US foreclosures were 40% greater than the preceding year. They went to just over 1% of all owner-occupied housing. Oh – the cite is at Realty Trac. [edited to correct link]
Mental Meanderings 