12711583, Maryland slowed down the foreclosure process
Posted by Cocobrotha2, Wed Jan-28-15 01:34 PM
>take two houses...
>IDENTICAL houses...
>1 in PG
>1 in NOVA or Montgomery County...
>
>the one in PG gonna be worth less off the strength (or lack
>of) of the large Black populace in PG county...
The move kept people off the streets but it's also retarded the rebound in prices because banks are STILL foreclosing houses that went into default back in 2008-2010.
VA didn't impede the correction... so their markets tanked and recovered pretty quickly. Markets in Maryland, particularly MD, have been slower to recover because there are still a good number of foreclosures coming onto the market at rock bottom prices.
I think the racial aspect also plays a big part, but this is partially a reflection of well meaning policies having unintended consequences.
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