Gee, you put houses up for sale at a price that the buyers can actually afford without gimmick loans that will bankrupt them in five years and those houses sell like hotcakes.
Go figure!
Let's also note that the decline in gasoline prices has made these places affordable to drive to and from one's job in the big city. If we get back to $4 a gallon gasoline, either by Zero's screwing up the energy picture, or imposing taxes on fuel, then all bets on Antelope Valley's recovery are off.
And I’ll bet that the mortgage companies who are selling the mortgages are samll real banks in the community, who will also be servicing the loan.