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Jan 23, 2008 4:19 pm US/Pacific

Locksmiths Business Is Booming During Foreclosures

Reporting
Edmundo Aguilar
SACRAMENTO (CBS13) ― One locksmith after another? Bouncing from one home to the next? The reason for so much work is the slumping housing market.

Business for locksmiths has skyrocketed because of foreclosures, especially in Stockton, which has the worst rate in the country!

On any given day, an average locksmith in this area changes the locks on foreclosed homes twice a month. But these days, that number has doubled, which is leading to about $5,000 extra a month in business.


Several miles north in Sacramento's Natomas neighborhood, the locksmith's business is just as lucrative.

Locksmiths say as long as the banks are backed up, their business will thrive.

(© MMVIII, CBS Broadcasting Inc. All Rights Reserved.)

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