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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: The Reaper who wrote (82136)	7/27/2008 10:42:10 AM
From: Dan3	Read Replies (1) \| Respond to of 116555

California's home sales have a baffling 17.5% jump sfgate.com I'm not sure those were real sales, but if they were, it would be interesting. Is it possible that, as part of the foreclosure process, this is just a recording of the homes sold at auction by the court? In this market, it's the lender who is usually the "buyer", so perhaps these are transfers of title from the homeowner to the bank rather than an actual sale. Among the California homes sold in June, 41.9 percent were foreclosure resales, compared with 6.6 percent a year earlier