Oct
01
2009
Shadow Inventory Case Study: Inventory in the Shadows Twice as Big as Normal Resale Inventory in Los Angeles and not on the MLS or for Public Viewing. Foreclosures and Distress Properties Clogging the System.
Posted by: in Home Mortgage Online, tags: 21 Months, Bailout, Banks, Bet, Case Study, Collapse, Distress Properties, Excerpt, Footing, Foreclosures, Fudge, Losses, Mls, Public Viewing, Random, Recession, Trillions, Wall StreetRandom Feed wrote an interesting post today on
Here’s a quick excerpt
The pent up inventory is getting ready to unleash in 2010. The gigantic bet made by the bankers and Wall Street was that somehow by allowing banks to fudge numbers since the crisis started that housing would find its footing and the market would stabilize. Sweep the collapse under the bailout rug. This perceived grounding was then going to allow banks to unload these properties and avoid realizing institutional ending losses. Yet 21 months into this painful recession and trillions handed o
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