The Shire Faces Foreclosure {Luxist}

Aug 5th 2008 4:13PM Let's see here. Dr M died, who had just bought the "Shire" on fire sale in May of this year.

What is most interesting is the term 'died', in the last month four prominent developers of Bend, have suspiciously died, and ignored by the local press.

The local press in all four cases, highly praised the developers for buying the 'falling knife' developments, but then have been suspiciously silent on all the deaths, most of which have been rumored suicides involving cliffs or guns.

The whole world praised Bend, Oregon on its Real Estate run up from 2002 to 2006, after the party death prevails, and whole world ignores Bend, Oregon. We were number in appreciation 2004->2007, and now we're #1 in developer suicide.

Virtually all investors in Bend, post 2008 real estate in the collapsing market have met an untimely death. It's not clear what will happen to the Tolkien village, but we certainly know where the investors are buried. Golf is now dead, so the "Shire" will not become a golf course. Affordable housing isn't selling, so the Shire will not become section 8 housing. Most likely the Shire will become part of Central Oregon 10-30 inventory and just rot in the sun.