I don't know why these properties are being sold but this is not just an 'uptown' thing. All kinds of reasons people have their property sold like this. One major illness and second mortgage can wipe you out financially. It could happen to anyone.
The economy is not doing well when uptowners & wannabe uptowners cannot pay their mortgages and autoloans. We all know they are hyped & behave like their substances make Devon House curried goat patties. JLP is bad for the economy.