Home Buying in Antioch>Question Details

SFimpromptu, Home Buyer in Antioch, CA

Is Antioch close to Bankruptcy again? I don't see how as there is NO inventory there for homebuyers now. July 2012 posting.

Asked by SFimpromptu, Antioch, CA Tue Jul 3, 2012

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Inventory is low because of the AG Settlement with the banks over the "Robo-signing" case. Additionally, the government has been "encouraging" banks to not foreclose on homes and to try to work on alternate solutions. Since they are not foreclosing we are not seeing inventory. Until more people decide to attempt a short sale, the banks start to foreclose again, or we see enough equity gain that those that wish to sell, list their homes, this is what the market will look like.
0 votes Thank Flag Link Wed Jul 4, 2012
A city derives revenues from various resources. Home sales is just one factor that contributes to (or takes away from) a city's insolvency. So just because there is low inventory of homes for sale (i.e., they're all sold/pending), doesn't mean the city isn't in trouble.
0 votes Thank Flag Link Tue Jul 3, 2012
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