An online real estate tracking system that monitors all major housing markets releases their foreclosure market report for the first quarter of 2008, with a very sad trend to report. The foreclosure rate has climbed 112% from the first quarter of last year. This is sure sign that there may be credence to the forecasts of economic expert Schiller with him saying that all the signs are there for the situation to go worse and that there is no other way for it to go. Trends such as vacant homes, new houses and mortgage defaults are all going opposite ways and people are set to lose homes at a massive scale. An estimated 2 million homeowners are facing foreclosure and the government’s move to provide tax relief and state measures like the actions of the New Hope programs in New York are all doing good but not good enough and are just taking too long for any significant changes to be felt.