Charlottesville City Manager Maurice Jones Would Be A Candidate For Short Sale or Strategic Default - If He Were a "Private Citizen"

The DP is reporting the ongoing housing downturn is preventing a local government official from fulfilling the terms of his contract.  Home values in this area continue to drop, and   1 in 7 Virginia homeowners owes more than the house is worth;  and effective negative equity is preventing sales and inhibiting "move up buyers."  These problems have thrown a wrench into the moving plans of the new