Uhh, us shorts could care less.The people that are being foreclosed on are the same studpid people that helped fire this inflation in home prices out of pure greed. You oughta hang a few realtors (like all of them) if ou want to be mad at someone. But, this is business and as they lose the houses back to the bank, it will ajust the prices back down so maybe your kids kids can afford a house.
the PNW is NOT doing fine. portlands condo market is tanking. the reason all the other markets appear to be going strong is because the californians inflated those markets with 2nd home purchases. not really 2nd homes, but pie in the sky investments, hoping to flip. thats what pushed the markets in rural america. ie: meridian idaho? give me a break. a 2nd home in Victorville CA? give me a break. simply, this economy has been going on RE growth. the ship has put on the breaks but it takes a while to slow down. the subprime defaults have show the most vulnerable cracks and it will keep getting wider, long before it gets better. GREED< GREED< GREED.....thats what drove the markets, not income, not better jobs, not pay raises. I know RN's and Real estate agents that own 2-3 homes, without flintching....they are gonna get hammmered! remember, the stats show as 2nd homes not as investments, even though they were investments.