Hard landing in Orange County: The Economic Downturd Continues

[substitute]

Distressed properties are a huge part of the real estate game. As a percent of all listed homes for sale, distressed properties were 40.1% of the market last week vs. 39.6% two weeks earlier.

Note the scary number in that table for the < $500K houses.

Comments

[substitute.livejournal.com]

More than a few of these people were victims of straight-out commercial fraud. But the speculating "flippers" are just getting what they gave.

[scythrop.livejournal.com]

There was definitely some advantage-of being taken, you are right. Countrywide/casino. Tomayto/tomahtoe.