So January saw more “must sell” REO inventory created than total inventory absorbed. I think this shows we are really at the edge of a cliff.
Must sells must sell. Looks like there are still not nearly enough buyers to absorb that inventory at current prices. Demand will need to be created by some serious price cuts. Those comp killing price cuts will lead to more
foreclosures. Lather, Rinse, Repeat. I don’t see how any amount of goverment meddling can slow the process down.
