something doesn't add up... or does it?, page-7

umm i cant really contribute here but one question keeps popping up on this topic maybe u can help me. these numbers being thrown around are usually from the media? or the banks themselves. when u do these mass foreclosure sums, do u count the loss as the whole value of the property? because it clearly isnt. its more like 10% (city) - 60% loss in the extreme (outer phoenix apparently). so it may be really bad on paper but not as bad in reality (the differnece bw end of days and recovery after capitulation? all in the mind, as the worst case never existed.) or am i wrong, please help, i have been stuck on this one. thanks