Thursday, July 2, 2009

The ugliest houses in Winston?


Evidence of the housing market meltdown has been hard to find in Winston-Salem, which experienced less of a bubble than other cities. Sure, construction activity is obviously less this summer than last summer and houses for sale are on the market for significantly longer, but so far we've encountered nothing that matches the national news stories of whole neighborhoods in distress. Last night's walk, however, suggested that "mistakes were made" at the height of the real estate boom. We found a neighborhood off Country Club Road of houses built 5 years ago notable for their ugliness and for the number for sale at "reduced" prices. It's easy to imagine being "underwater" on a mortgage for one of these houses. It's also easy for Susan to imagine just walking away from one of these...

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