Do you know for sure that there were 2400 houses involved? Has that figure ever been in print? If not, I have a hard time believing that 2400 houses were involved. I have seen the figure of 400+ investors in the news. Are a husband and wife couple counted as two investors?
I don’t think the Temecula / Murrietta population is much more than 200,000. Even if there are 1000 short sales and/or future REOs created out of this scam, the negative effect on the market in that area would be devastating. The market already blows up there. Every street I drive down in that area seems to have a lot of active listings.
