Now we’re getting somewhere. I would agree that it doesn’t seem like it will take huge increases in foreclosures to impact resale values.
Why did you choose to “quote” Cagan, especially since you don’t put much creedence in what he has to say? It certainly seemed to cost you and others a bit of grief today.
For me, I’m hoping foreclosures don’t get too bad because I don’t want to see neighborhoods go to hell in a handbasket. Nope, just enough to bring things back to normalcy. I’ve heard of neighborhoods north of San Diego experiencing multiple foreclosures on a single street (could be hearsay, I don’t live there). That can’t be good.
