(CTML) As trustee sales have moderated in the past 60 days, I've not posted them. However, today, they were markedly higher. They were the highest since January AND 11 of the listings were more than $200K--unprecedented. Three of the properties were the same last name, but different first names. I'll surmise, then, that they were flippers.
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The latest Brookings Institute report showed that areas with low cost of living tend to have higher default rates.
I suspect that Richmond is similar to Charlotte. Low wages, low unemployment, low cost of living, and relatively abundant credit - tends to get people in trouble.
Doesn't seem like it should work like that, but apparently it does.
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