REO / short sales reach 63% in San Diego
Bob Morris @ May 3rd 2008 11:57 - Category: Credit crisis
While a staggering number, this might also represent some kind of bottom. I mean, seriously, it’s hard to imagine that things could get worse than having 63% of all residential real estate on the market being distressed.
I’m not saying we’ll have a quick V bottom and recovery. Quite the contrary, we may well see several more months of this, maybe a year, in areas like San Diego. But a bottom does appear to be forming.
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