Today's post is the first episode of a planned series of articles which endeavor to showcase the role of lender owned properties (REO) in the current housing crisis.
For months, I've been writing about the fact that REO's have overtaken the market, and are driving prices down. The embedded video follows Jim the Realtor, as he drives around Oceanside to survey the neighborhood where he has a new listing. Watch as he encounters REO after REO within only a two block radius.
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