Wednesday, April 08, 2009

heads up

in addition to 'shadow government' we have 'shadow inventory'- think we'll ever have anything on the up and up ever again?

'A vast "shadow inventory" of foreclosed homes that banks are holding off the market could wreak havoc with the already battered real estate sector, industry observers say.

Lenders nationwide are sitting on hundreds of thousands of foreclosed homes that they have not resold or listed for sale, according to numerous data sources. And foreclosures, which banks unload at fire-sale prices, are a major factor driving home values down.'

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