VARbuzz: REO flood a-comin’? Doesn’t look that way
As we told you the other day, all the hubbub about shadow inventory — a flood of foreclosures and distressed sales coming down the pike — looks to have been a tempest in a teapot and much ado about nothing. A mountain out of a molehill, if you will.
The Wall Street Journal has a piece, “That New Foreclosure Tsunami? Still Waiting” in which it points out that the fears seem unjustified:
The reasoning was that because of the “robo-signing” scandal, and the subsequent foreclosure freezes, a huge number of foreclosures had been put on pause, and that the banks would eventually have to deal with their delinquent borrowers, and foreclosures would re-start in a big way.
According to data released this week by LPS Applied Analytics and CoreLogic, the waters are still relatively calm: no big waves on the horizon just yet.
- Login to post comments
- Feed: VARbuzz
- Original article
I totally disagree, you see
I totally disagree, you see the houses sitting empty and now are starting to come on the market. There are several in the three major subdivisions in the county I live in, some of these homes have been empty for over 18 months or longer. Finally, there is some activity on these homes to complete the process to put the homes on the market to be sold. There is a long way to go, before the market comes back and prices start to rise.