I had this blinding flash the other day. I was thinking about this region's foreclosure crisis and the sales bursts we've been seeing the past few months. The blinding flash was that somewhere there is a great story about a street or cul de sac once blasted out by foreclosures that has been stabilized by new occupants.
It may well be that it's too early for this. But whether now - or eventually - some tortured street wrecked by subprime loans or other ARMs is going to have a bunch of new owners buying with 30-year fixed rate loans.
That a return of stability - or in the case of new neighborhoods, maybe the first stability at all. That's the kind of story I am looking for. So please keep your eyes peeled for me. It would be nice to tell that kind of tale somewhere in this region.
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