Just on my street only, which was built out in 2006, only 1/3 of the original homeowners remain. Both my neighbor and I pick up what we believe were incredible deals on short sales when looking at the price per square foot. After factoring in the present value of future mello roos payments, we still purchased well below the then current (and now) market value of the homes that sold without taking into account the present value of future mello roos payments.
I think there are still a number of people that will walk away, I just think that the majority have already done so in SEH.
