Jim.

That sounds like a disaster, but how many deeded properties are there?? 

In Montgomery County, there are 332,248 deeded properties of whic 5948 are listed for sale and only 111 are listed as bank owned, forclosed, REO or HUD owned.

That's a very low figure.  I know our situation isn't as bad as yours. 

It gets complicated because this goes into many counties in the Metro area.  The Atlanta Metro area has over 24 counties that are included in Metro Atlanta.  It would be almost impossible to trackthe deeeded properties.  However, most are around the core. Our FMLS system that serves the region has 83170 single family homes active, and 4625 Properties Found in foreclosure - 562 Condos in foreclosure.  It is much worse than this!

Jim,

Maybe some RE investors could get some tax/breaks by having homeless people live in their buildings.

It is something I have heard of anecdotally that is going on in some of the harder-hit areas.

It does make some sense in this crazy, displaced market...

Steve

We are having this epidemic ourselves in California. How long do you think this will continue?

Obeoman Steven Stearns  I would not want to own a property where the homeless live.  As an inner city person, I know the result of that!  Not good.

Tina Maraj Shah Fullerton, Ca. Realtor  For some time.  Basically I agree with the government spokesman the other day that announce the 90 day freeze on foreclosures....  He basically said that we are just starting this process, the worse is yet to come.  Late 2009 I see a bottom.  The numbers are just too high to think this is going to turn around in a month or so. That is not going to happen.