Hotpads.com’s foreclosure heat map is a beautifully programed, web 2.o application…that will make you crap you pants. We all enjoyed watching our “zestimate” double during the mania of ‘06. But its a lot less fun to see houses in your ‘hood selling 35% less than what it was worth 2 years ago.

Its like a game of monopoly, gone horrible wrong. Looking good, M-town.

I would not count on a bottom anytime soon. This was a speculative boom, not driven by demand like the post-WWII population boom seen in the graph below. We are going to have a long grind down the other side of this anomaly. If there’s a silver lining, perhaps “Flip This House” will be cancelled.

http://hotpads.com