Trying to make sense of delusional statements and behavior within Orange County real estate since 2005. And failing miserably.
"Lessons not learned" would be a more appropriate title. We've been through this before. So they licensed appraisers and implemented a "Supervisory" agreement with the lenders.In reality, licensing made the appraisal problem worse, and the "Supervisory" action turned out to be little more than a "Call me if you have any problems" oversight.Until someone comes down hard on the real estate industry, the fraud will continue unabated.
Today's new home sales report: Demand down 1/2 million homes. Contractor bankruptcies inevitable. http://infohype.blogspot.com
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