Re: Its looks like its going to get ugly out there..
I have been watching the Market for two years now. the majority of stuff thats going bad up here is based on the fact the Jobs bailed out of our state. if the jobs were here the people would be. right now I am seeing houses in the $1,000,000+ range going into forcloseure. its amazing what people just walk away from. the biggest areas of concern that I have seen are the people moving out and headed to Florida & Texas. I was informed by a realtor that those states do not inforce wage garnishes. so the people that got the 120% of the homes value in cash headed to places like that to start over with cash in hand.
right now in Oakland county alone there is something like 1800 forclosed homes. its just getting worse too.
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