Are Foreclosed Homes good for the Economy

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The big buzz word in real estate these days is foreclosures.  Foreclosed homes in Encinitas and San Diego County are very common, yet critics disagree on whether or not foreclosed homes are good for our nations’ economy.  This article I read in The New York Times gives weight to both sides of the argument.  On one hand, forclosed homes present a suitable and affordable option for people to purchase their first homes, however the amount of forclosures in the country are still rising.

What are your opinions on foreclosed homes?  Have you purchased a forclosed home in Encinitas or a foreclosed house in San Diego?  Do you feel that foreclosed homes will help jumpstart the economy, or are they more of a burden than we think?

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