Just eyeballing the worst areas of SD with realtytrac would seem to indicate that as well. I’m getting actually seriously worried at this point, given the carnage thats present and considering we are just on the upswing of ARM resets, interest rates are climbing and job growth is hitting a wall. Now think what a recession will do. A fifty percent drop seems optimistic at this point.
So I wonder if the banks are playing some sort of game holding properties like this to try and stave of a crash, or there is some other not-obvious-to-me benefit to doing so.
