In a world where foreclosures are held in check (choose your theory as to why foreclosures are being held back).
The builders will be the price setters for any given area, (my guess about a 2003 price range for most SoCal areas, but that’s just a guess).
This could be interesting.
If the foreclosure flood gates open, expect the economy to tank and more municipal BK’s.
I guess we will see.
