Such a large debt can hang over you for years.

Bet someone woke up with a hell of a hangover.

The foreclosure hangover seems to still be clearing there due to the lengthy foreclosure time so the returns there are looking similar to what I saw in SoCal was in 2009.

Replaced by higher end clothing retailers, antique shops, nicer restaurants (Hodads being a hangover because of the quality of their burgers), etc.

based on price of lots going up compared to when these companies were creaming the hangover inventory 5 years ago.. lots have doubled and tripled.Lumber is up.lack of inventory in some areas slows sales.and building is highly regional.. lots of factors.. 

I’m picturing you, a young man of 26 who spent NYE chasing after girls, waking up this morning with a hangover and driving yet again to this job that you tolerate while you ask yourself “what’s next”?

And in certain markets I think we are seeing those.. the hangover inventory is pretty much gone.. the liar loans and sub prime defaults have cycled.. the new Crop like I said of TurnKEY folks is much stronger and PM is on another level altogether than when I started in the space in 2002.. 

And like someone recovering from a month long bender, the hangover is really painful.

in some states like where your at.. there is still plenty of hangover inventory and or vacant homes.. like most of the major rust belt cities still have vacant homes virtually on every block. 

That said, people do have a “hangover” that the next housing correction will resemble underpinnings of a 2008 crash.