I showed someone the 45% drop in Eastlake home and he commented to a third party that its below the market rate and no one would sell for that, its only because of a foreclosure and commented to me that I would never live in THAT place. Many foreclosures in that hood at that price, but DENIAL is still strong and is surging. Acknowledgment of the drop would mean the loss of security and stability and frankly if you are a patriot, you wouldn’t let the bad guys win.
