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Reader Rant: Media Missing Urban Downturn

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{Trustee sales in the City of LA via PropertyShark]

Foreclosures aren't limited to one neighborhood or one area. A reader wants more media coverage of foreclosures and the market downturn in urban area. We've heard this complaint before. We assume you're talking to the big media entities, and not us. "So much of the foreclosure coverage seems to focus on people who bought new homes in the outer ring suburbs. I haven’t seen much coverage like this about the urban areas. Things like condo conversions and new condos. Those products must be taking significant hits. When I do read coverage about the urban areas the loses are usually attributed mainly to “the market.” Does this represent a bias of some sort? Is it too easy to sneer at those silly suburbanites who wanted a big home but found the mortgage and the commute “unsustainable?” Is it just a matter of the scale of the foreclosure problem in the outer ring or is it the sprawling suburban development pattern that makes it more immediately visible? So many questions."
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