Residential real estate is one economic arena whether New Mexico is both better off than a lot of other places and where it truly matters. There contrast is drawn with the specious consolations offered with regard to the state economy.
Still, some of what is happening nationally is happening here, fortunately just much less. An example of the real world comes from legal notice advertisements placed in the Albuquerque Journal. Today's paper has 13 ads having something to do with foreclosure. Plaintiffs include some famous names: Countrywide Home Loans Inc., Bank of New York, Citimortgage, Inc., and JPMprgan Chase Bank, NA, as successor to Washington Mutual Bank, FA. Flagstar Bank, FSB, another plaintiff and little known in New Mexico, is headquartered in Troy, Michigan, near Detroit.
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