I think that this development, much as the one in Seadrift, was the result of greedy speculation from some investors caught up in the whole Wall Street, Madoff, Enron, money grows on trees/open and close the valve to control oil prices mentality that has us in the mess we are in now. I can only hope that I am back to work and have a bit of cash to spare when the fire sales start at these "ghost towns that never were towns". Otherwise, if after this wake-up call of a recession is over, things fall back into the same state of greed fueled disarray they were in before, I'm headed to Costa Rica, or Uruguay or Chile to live out my existence on this Earth.
I wonder if there was a clause in the contracts that required a home to be built within a specific time period? That might be the trigger for the foreclosures?Do the "lucky" three homeowners get free run of all of the extras?