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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: John Vosilla who wrote (247991)5/13/2010 6:38:07 PM
From: RetiredNowRead Replies (4) of 306849
 
I don't believe it. The banks simply aren't foreclosing on about 8 years supply of homes, so that keeps them off the market. Hell, I have a house right across the street from me where the owner walked away a year and a half ago and the bank still has not foreclosed. That house has never been put on the market and there have been tons of people asking how they can buy the house.

So I know for a fact the banks are holding back supply to prop up housing prices. If they unleashed the flood of foreclosures on the assets they have liens against where the owners are delinquent, housing prices would drop another 30% over night.

This is all one giant game that involves collusion between banks and the US government to limit supply to prop up prices.
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