[quote=Adame99]That’s a really interesting point. So it’s not that banks are holding off on short sales and foreclosures because they want to. You’re saying they’re doing it because they HAVE to.
In other words, the inventory is becoming equity sellers and people who need to sell for personal reasons.
Did I understand you correctly?[/quote]
No, the lenders are not holding off on foreclosures because they have to. They’re holding off because they suck at dealing with distressed assets. They have had numerous regulatory delays over the last 5 years, but when those delays expire, nothing changes. They have had almost no regulatory limitations on short sales. They take as long as they do because lenders suck at dealing with distressed assets. They suck when there are regulatory delays, they suck when there are no regulatory delays. All other explanations are incidental.
