Detroit Foreclosure Investors

In Detroit and Southern California, foreclosure opportunists are going after cheap homes in downtrodden neighborhoods, which are selling in the five-figure range.

But there are plenty of million dollar-plus homes out there, in good neighborhoods, which have fallen into foreclosure as the result of shoddy lending practices, speculative buyers and homeowners walking away from a negative equity situation.

Interesting article.  I like the general theme about the opportunities. I can’t say I agree with some of the opinions like the motivation of banks and of agents. What do you think?