[quote=briansd1]…Since you’re worried about your own property value, you should be grateful.[/quote]
Well, brian, it’s not quite time for me to “worry” yet. The fat lady still has to give her encores. I’m finding myself NOT grateful because this “failed debacle” has been going on for far too long. A crash in ’07/08 with subsequent mass REO’s being marketed would have taken care of 90% of this problem in short order. At that time, all the bottom-fishing REITs and other private investors would have swarmed in and bought up multiple SFR and condo properties in the same area and would have been able to house many of these “former squatters” so they didn’t even have to leave their neighborhood of choice! Instead, it is nearly 4 yrs later and here we are! Still fvcking around with all these properties titled in the wrong hands. It doesn’t bode well for anyone’s property values who either owns property nearby huge swaths of these “distressed” areas or the properties in these heavily distressed areas are in direct competition for buyers with their more stable, established area.
