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59% of Los Angles Houses for Sale Are Foreclosures

Discussion in 'Political Discussion' started by weswelker#83, Apr 1, 2008.

  1. weswelker#83

    weswelker#83 Rookie

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  2. IcyPatriot

    IcyPatriot ------------- PatsFans.com Supporter

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    #87 Jersey

    The number is not surprising ... anyone wanting to sell right now is better off waiting. The same reason the rich get richer ... because they can wait through the downturns.
  3. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    Heard on some news program yesterday that many of these are bank owned, and used to belong to Real Estate "Investors".. the so-called flippers who were trying to make an easy buck by making things pretty. Yesterday on the news there was an article about New Bedford and all of the boarded up multi-family property, essentially it was the same thing.. Providence is another city hit hard, as foreclosures are rising. The biggest impact so far seems to be the cities, have not heard of any foreclosures on the coast yet.

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