I was talking to a few of our neighbors this week, and they heard from the mail lady that several homes in our neighborhood are in foreclosure. I guess investors bought the homes, couldn’t sell them because of the market taking a dive, and now they’re willing to walk away from the home. Eek! I’m sure that doesn’t do much for your debt management situation! I hope those investors are very happy in the homes they already own, because I’m sure that loans are hard to get once you’ve walked away from a house and you let the bank take it.

The builder wasn’t supposed to sell to investors - but the first salesperson in here was a bit shady, and she did whatever it took to sell the homes. Unfotunately, this is the end result. 10-15 homes sitting vacant - never even lived in. Plus the builder has their own inventory homes they’re trying to unload. They’re so desperate to sell, even people with bad credit remortgages could get a brand new home right now. Builders are doing all sorts of things to entice people. They’re giving away cars, paying your mortgage for a year, giving you free homeowners insurance cover, paying off credit cards - I’ve never seen the market like this in my life.