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The main thing I see here is houses sitting empty. There is a neighborhood in my town where probably 20% of the houses are for sale and empty. They are all foreclosures and they are having trouble selling them even at greatly reduced prices. I drive by a real estate office almost every day on their reader board right now they have an ad up for a house in town that is 3 bedroom, big kitchen, big yard, in ground pool, bonus room and "very nice" for $224K. Three years ago a house like that would have gone for $350K+
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