[quote=Rt.66]The Bulldozer operator had jobs in just two places, Victorville and Temecula.
Its not as if we weeded through a bunch of stats to “latch onto” a negative aspect about Temecula.
Fear mongering would be suggesting homes might be demolished, homes actually being demolishing is a different thing.
You gotta admit those schools for sale are interesting don’t cha? Did’nt you for a minute dream about what you could do with a 53000 sq’ school of your own priced at $4.34 a sq.
Or is your imagination stunted and absorbed with defending foreclosure central? [/quote]
Scarlet: I’m gonna buy you a nice bottle of Merlot and some Xanax. Pull your fangs in, hon.
I think you’re bang on the money as regards shadow inventory, but not for the reasons you think. I do believe that the banks understand that releasing massive amounts of inventory would further depress prices and by a significant degree, but, in many cases, the banks aren’t controlling the majority of the inventory. Huge percentages of those mortgage backed securities (MBS) are in the hands of various investors and all over the world and lawsuits are now working their way through the courts right now as the parties try to determine responsibility and ownership.
A friend of mine at Wells Fargo told me about a huge lawsuit involving Deutschebank and their attempts to foreclose on properties in the South and Midwest. As it turns out, Deutschebank didn’t have the right to pursue foreclosure and the courts are trying to separate the pepper from the flyshit. This kind of thing will drag on for at least a few years. That, combined with gubment meddling, will continue to muddy the waters and futz with prices.
