BobS
I bicycle through that neighborhood occassionally, and yes, there are a lot of houses for sale there.
They were all sold at the peak of the bubble, and probably with lots of leverage, so will take the biggest hits now on the downside.
They also strike me as the kind of product that will be shunned in the future…monster houses close together with crowded streetscapes. Recessions always force a healthy downsizing of our appetites, something we Americans can use right now.
Also, they would be terrible rentals…do the numbers on costs vs. rents and they make no sense whatsoever.
