my township manager says the same thing...
My township manager said recently he see the same trend, not so much from foreclosures, but aging owners of McMasions (we're in PA and it's the 3rd oldest population) for which there are no buyers with the $$ to buy from them and move in. it will take 2 families to buy 1 house. I fo one would not mind seeing them torn down and replaced with more eco-friendly cluster housing, which was his point, that's probably what will happen.
As for the Charlotte development, I'd question whether the lender was working with the developer to just get those homes filles, with those kinds of numbers...
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