Where are all the people?

[no_such_reality]

Foreclosures per capita are already 25% above the bad years of the last downturn. Where are all the people?

Last cycle, you saw foreclosures. You knew people that got evicted. You knew people that were going back to the bank to try and force a write down.

Where are they this time around? I see the buildings, I see the defaults notices, I see the REOs sitting inactive, but, vacancy is RISING in the apartment complexes. Where are all the “people losing their homes”?

Are people losing their homes or a people losing their speculative investments? Is the current foreclosure spike really only tied back to 1/4 or 1/10th the number of people because a feew played like Casey Serin and went on a buying rampage sucking up several properties with vision of Trump millions?

These are honest questions, I don’t see the people. I just see the empty houses. Do I remember incorrectly? Will it just take four years for the people to pile up enough that we all have co-workers that got pinched and lost “their home”?

[donaldduckmoore]

They are all leaving California to somewhere cheaper to stay. Don’t forget, these people were holding more than one properties. When one leaves, more than one properties will be empty.

[donaldduckmoore]

They are all leaving California to somewhere cheaper to stay. Don’t forget, these people were holding more than one properties. When one leaves, more than one properties will be empty.

[donaldduckmoore]

They are all leaving California to somewhere cheaper to stay. Don’t forget, these people were holding more than one properties. When one leaves, more than one properties will be empty.

[bsrsharma]

Very good question. I am also not seeing stories of people being driven out of homes, increase in shelter occupancy, evidence of pain etc.,

[bsrsharma]

Very good question. I am also not seeing stories of people being driven out of homes, increase in shelter occupancy, evidence of pain etc.,

[bsrsharma]

Very good question. I am also not seeing stories of people being driven out of homes, increase in shelter occupancy, evidence of pain etc.,

[Arraya]

of course, I look at all these short sales practicaly on a daily basis now. They are all empty, at least a good protion. That’s why I think all this talk of bail-out is funny. They do not want any help keeping a home that is not skyrocketing in value….

[Arraya]

of course, I look at all these short sales practicaly on a daily basis now. They are all empty, at least a good protion. That’s why I think all this talk of bail-out is funny. They do not want any help keeping a home that is not skyrocketing in value….

[Arraya]

of course, I look at all these short sales practicaly on a daily basis now. They are all empty, at least a good protion. That’s why I think all this talk of bail-out is funny. They do not want any help keeping a home that is not skyrocketing in value….

[XBoxBoy]

For what it’s worth….

Not sure why you aren’t seeing the effects, but I do know quite a number of people who have left San Diego over the last couple of years, citing the high cost of housing as a principle reason. Also know of some who have been foreclosed on. So, they are out there.

Also, keep in mind that the wave of foreclosures is just really getting started. The big jumps in statistics we are seeing are mostly the first stages of foreclosure. In six months there will be lots more foreclosures in the final stages.

XBoxBoy

[XBoxBoy]

For what it’s worth….

Not sure why you aren’t seeing the effects, but I do know quite a number of people who have left San Diego over the last couple of years, citing the high cost of housing as a principle reason. Also know of some who have been foreclosed on. So, they are out there.

Also, keep in mind that the wave of foreclosures is just really getting started. The big jumps in statistics we are seeing are mostly the first stages of foreclosure. In six months there will be lots more foreclosures in the final stages.

XBoxBoy

[XBoxBoy]

For what it’s worth….

Not sure why you aren’t seeing the effects, but I do know quite a number of people who have left San Diego over the last couple of years, citing the high cost of housing as a principle reason. Also know of some who have been foreclosed on. So, they are out there.

Also, keep in mind that the wave of foreclosures is just really getting started. The big jumps in statistics we are seeing are mostly the first stages of foreclosure. In six months there will be lots more foreclosures in the final stages.

XBoxBoy

[bsrsharma]

XboxBoy – Are you seeing any evidence of true homelessness? Not just people moving to lower cost area or having their investment/flipper home foreclosed.

[bsrsharma]

XboxBoy – Are you seeing any evidence of true homelessness? Not just people moving to lower cost area or having their investment/flipper home foreclosed.

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