You could drive down a street that looks perfectly normal, with minimal for-sale signs, and not realize that 20 percent of those homes are in foreclosure,” Cherry said. “There’s no big flag that says that a lot of these people are in trouble

“In the employment-rich suburban submarkets, this will be much like the gulf oil spill,” Otteau said in an e-mail. “For the most part, it never happened. The foreclosure wave will be the same way.”

Foreclosure delays in judicial states also are keeping capital on the sidelines and reducing borrowing options for buyers of high-end homes, according to Chris Whalen, a senior managing director at Tangent Capital Partners LLC in New York.

“Here in the Northeast, we have a problem,” Whalen said in a telephone interview. “Investors won’t touch a state where they can’t foreclose on the house. They have no collateral.”

Flmaozzz. Short sales. Foreclosures. It's starting to circle around the rim of the toilet bowl. Not much longer now till manhattan getz it.

Hahnahajaaaahahhahahahaha

ITs, right around the corner-

Sorry, I was certain that I posted it.

http://www.bloomberg.com/news/2012-09-18/new-jersey-housing-suffers-as-defaults-exceed-nevada-mortgages.html