First the Los Angeles real estate boom burst; then there was a rise in the number of Los Angeles foreclosure homes and now the luxury homes of up-market areas like Newport beach and Beverly Hills have started to witness a fall in home prices. In fact, according to the April’08 report, the median sale price in Beverly Hills fell by 13% while the prices in some of the areas of Newport Beach fell by 34%.

For many months now, the real estate industry has suffered much from the mess brought about by the enduring foreclosure crisis. But to the surprise of many experts, the National Association of Realtors‘ home sales index for the month of April leaped to 88.2, from 83.0 last March.

The foreclosure wave that has swept the nation has had all kinds of far reaching effects on the economy, the lives of citizens, financial sectors and of course the housing market. But one of the most unusual results of near record highs in foreclosures is now a huge surge in the mosquito population of California and Arizona.

According to the Warren Group, foreclosure homes in Massachusetts have been increasing in number. Compared to April last year, the number of foreclosure deeds recorded increased by as much as 300 percent, from 464 to 1,334.

According to new reports, foreclosures in Milwaukee County, the most populated in Wisconsin, are up over 45% since the beginning of the year, with an 18% increase in foreclosure homes occurring in May alone.

Bank executives are warning the New York legislature and governor not to go too far in their efforts to address the foreclosure crisis and lending industry through new regulations, as they warn it could have a larger effect on the ability of new applicants to receive loans.