[quote=eclipxe]Yes, we saw a meltdown of GD proportions if not worst. The map is the aftermath. It is the carnage in the streets and us knife catchers are picking up the remains. The bomb went off, everything’s on sale, get them while they’re still selection. You have 5+ years.
If you don’t feel like jumping in, then by all means don’t. Personally I found a home that I love in an area that I love for a price that was cheaper to rent. I am fully aware of the potential for downside losses but I also am fully aware of the amount of government intervention to keep prices at a certain level. Based on that I feel there is not much more room to drop out here. As well as based on tried and true fundamentals.
Carnage? yes. Cleanup and recovery? Slow but sure.[/quote]
Wrong again. The map is not aftermath, most of what you see on there is recent, hence the title of this thread:
“There seems to be an increase in foreclosure listings in Temecula”
It was nearly that bad before (like last summer), then it cleared up a bit from all the moratoriums and now its back in over-drive and getting worse by the week. Lots of the REOs from that first wave are part of the shadow inventory and don’t show up on RT anymore.
Look at the charts in the link I posted above. This is not the old pain that brought the first round of price destruction to your fair city, its a whole new, bigger, badder wave that is just getting started.
Its great that you love your home but that’s different than jumping in and trying to make a case for others to buy or suggesting a bottom is near when the data screams “impossible”. Misery loves company is the only way I can explain the financial side of the TVMOD.
Tried and true fundamentals? Where can I get my copy of “Fundamentals of Investing in RE during a Great Depression Forclosure Crisis”? Or do you have some other source for navagating waters not seen since GD1?
