False, SDR. I am one of those REO guys and we have been told to ramp all systems up for serious assignments this month, received 11 just last week and they said you ain’t seen nuthin yet. Most were vacant and already rekeyed MONTHS ago! Means the phantom inventory is real and here it comes….
BTW I’m not trying to be a contrarian to your post, just stating the facts I have heard from the horse’s mouth.