The bursting of the housing bubble didn’t really affect markets that weren’t prone to bubbles in the first place. Shitholes that were circling the drain like DeeeeTROIT excepted, of course.
You didn’t hear about a glut of foreclosures in Ottumwa, Iowa, or Casper, Wyoming.
As far as homeowners in foreclosure, Chris Christie in NJ has the right idea. Minimal state intervention, no requirement to offer a loan mod, let them make it through the system. Keep prices low, and if you were retarded enough to buy a home at bubble prices, screw you.
