The quality of homes built during the real estate market boom and the homes prior to the homes built during a more normal market can be completely different.  Some builders had been cutting corners to meet the demands of a “hot” market.

This is becoming more evident as home inspections are being done on these homes when they go on the resale market.   Lower quality homes decrease the value of a home and can push the homeowner into foreclosure because of their inability to sell their home for enough to payoff their mortgages.

 Losing one’s job, the death of a spouse or unexpected medical conditions could cause the homeowners to no longer be able to pay their mortgages. The new home could quite possibly have been put into larger and riskier mortgage than they needed or possibly could not afford..

Inspections for these homes in the resale reveal that they are not worth what they were a couple years ago, and they were never worth what they were sold for in the first place because of crummy construction and expectations created by a housing bubble.

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