Our current economic difficulties have wreaked havoc on millions of households across this country. We all have either heard or read about families losing their homes to foreclosure. Obviously, that is a critical challenge at this time in history.
However, I am not sure we realize that these tales of heartache not only effect the home that was lost but also impacts the neighborhood around that house. As more and more houses come to the market as distressed sales (discounted pricing), the value of homes in that area are driven down. We must also take into consideration that these distressed sales are no longer limited to certain states or certain regions in those states.