“• Carmel Valley will be hit hard with this second wave of foreclosure. Why? Because many homes in Carmel Valley, purchased during the 2000-2008 housing construction boom, when long lines formed to buy the properties, were purchased with zero down, or a small amount down, so there is very little equity in the property. Carmel Valley has a median income of $90,000 and while higher-end families have been able to withstand the initial housing meltdown, things are starting to change.”
Hit hard? seems like the opposite is currently happening.
