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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Hawkmoon who wrote (102215)9/19/2009 7:47:41 PM
From: Elroy Jetson3 Recommendations  Read Replies (1) of 116555
 
If the banks had dumped their foreclosed properties as they came up, their sales price would have been higher.

Instead they saved up almost all of their foreclosed properties for four years. Then, after prices had tumbled by 30%, banks then offered them up for sale all at once and the market took an even larger dive.

This decision to take lower prices later on may have helped someone, but it certainly didn't help the banks.

The heavily indebted like yourself will always imagine there's some scheme which will certainly prop the market up at artificial levels, but they always fail. Market forces will not be denied.
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