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6% of MA homes for sale are bank owned foreclosures. Short

 
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Joined: 14 Jul 2007
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Location: Greater Boston
PostPosted: Fri Mar 07, 2008 2:59 pm GMT    Post subject: 6% of MA homes for sale are bank owned foreclosures. Short Reply with quote
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Description: 6% of MA homes for sale are bank owned foreclosures. Short sales not included.
URL: http://www.boston.com/realestate/news/blogs/renow/2008/03/more_foreclosur.html
Info/Broken?: http://www.bostonbubble.com/link_info.php?id=1532

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PostPosted: Fri Mar 07, 2008 11:12 pm GMT    Post subject: Reply with quote
40% of Home sales in some Cities
are Bank owned Exclamation Exclamation Exclamation

40 Percent !!!

Almost impossible to sell a home in some neighborhoods !

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Dorchester Grandma
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PostPosted: Sat Mar 08, 2008 1:04 pm GMT    Post subject: Gentrification did not happen Reply with quote
Gentrification in some parts of Lynn, Lowell, Dorchester etc. could not, did not happen. Sky high house prices did not bring in the rich yuppies as developers had hoped however local residents with service or other blue collar jobs tried to stretch their budgets to buy homes in their own previously affordable (and thriving) neighborhoods.

With boarded up houses, dirty streets, gang activity, drugs and shootings now NO ONE wants to live in these areas! You can thank the greed of investors and developers for this sad scenario. Oh and don't forget the important role of unscrupulous mortgage lenders who duped people into thinking that they could manage to pay for their overpriced homes. Sad
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