It's actually worse, at least in this area (North West) See my #11
Problem is thatwages are so low and stagnated that most people cant afford the carry costs of even a remotely mainstream home.
Housing became like everything else in this country - PONZINOMICS.
Yeah, it’s rough here. The less developed areas are really ugly. I live in one of the newer areas, and I don’t even bother looking at values around me. It’s too depressing.
The State’s foreclosure mediation rules are definitely not helping. All they are accomplishing is the extension of the foreclosure process and delaying the establishment of true bottom. Like I said, I think we’re close on the average, but it all depends on where the home is located.