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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: bentway who wrote (28101)3/13/2005 4:12:03 PM
From: John VosillaRead Replies (1) of 306849
 
When these guys walk, they dump the houses on the banks, which sell them at a discount - driving prices down and increasing inventory. This won't be happening in the non-bubble areas.

Many nonbubble markets have record foreclosures today. For instance I was shocked to find out Tarrant county,Texas (Ft Worth) has as many foreclosures as the whole state of Florida. This just confirms the ability to use the home as an ATM has delayed to inevitable in the coastal bubble markets.
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