I don’t think many people will be foreclosing up here. There may be some short sales, depending on how much equity they have in the house, but I would suspect most people would be safe. Plus, with the low interest rates when people bought up here, it would be easy to rent out and be near your PITI payments.
One obstacle is the high HOA at $342 for most people, since there isn’t a clubhouse or rec center for the SFH area. There is only one for the NorthStar condos.[/quote]
Uh, huh…Yeah. sure….
I don’t know but if some folks overpaid for a home and now are seeing they are $150k underwater (maybe more in the coming months), it seems pretty reasonable to me just walk away from being upside down. Why not.. Strategic defaults are so fashionable these days….Anyway, you were wrong about prices holding up…So, let’s see who’s track record is more accurate moving forward, shall we.?
