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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (70622)10/29/2007 11:29:04 AM
From: Incitatus  Read Replies (1) of 116555
 
That is a huge potential supply of homes that for some reason or other is not listed yet. I suspect many of those are REOs (real estate owned ) by banks and mortgage companies like Countrywide. Every passing month those REOs sit on the books waiting for higher prices is lost property taxes, upkeep costs, and balance sheet impairment.

Balance sheet impairment? I would think the impairment would come from selling the houses. Isn't it better to hold a house that's "worth" $400k than to sell it for its fair market value of $200k? It's part of the "mark to fantasy" deal.
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