There is no justification for a 4 million dollar home, it's perceptual value and those perceptions change.

Now add internet and connectivity because as much as one can live without it perception is that one can-not, and there is societal truths to that. 

People's perception - 2008 is what a lot of people consider to be a normal recession as that what they remember. 

IE a JV deal.. and they take title in the name of that LLC.the benefit to them is if you fail according to the operating agreement in the LLC they can just eject you from the LLC and not have to foreclose.. now in principal i personally see nothing wrong with that set up as a lender. but its not the perception that most that reply to their no money down lending program are aware of .. and or since most are beginners it could be a little overwhelming or complicated for the borrower to fully comprehend.. with a borrower just thinking hey if it closes great were do i sign.

There are several companies wholesaling ALL over - yes, some are not --what we would call the most upstanding, but I think you're missing a very real and surprisingly larger portion of the demographic - or at least discounting it far too heavily in the form of a negative perception based on ignorance vs actual knowledge. 

Look at the influence it has over people, how it can change their attitude, perspectives, relationships, and perception of what is important in life.  

My perception has always been that it's a little more blue collar but when I asked around, a lot of people have said it's a depressed area and I'm better off sticking to the Chicago suburbs. 

A large number of foreclosures hurt your resale value as it hinders perception and may affect appraisal value.  

Everyone comes here with perceptions of dealing in real estate as if it were a train load of shoes.

But not always and not in every case.The truly great investors resist the lemming like siren call of the "next great thing" and stay focused on the fundamentals of the deal at hand.