[quote=bearishgurl]
It appears that ALL homeowners are paying for the successful consummation of “short sales,” some obviously far more affected by them than others.
[/quote]
Those homeowners would be far more affected by not having short sales. The home would be foreclosed. The stripping and damage far worse, IMHO. The banks hammered and loans even tougher to get.
But, as you suggest, the MLS would have an accurate if even lower sales price.
Which frankly, I think the banks should eat it, kick the DSes to the curb and let everybody get on with it. However, certain people in positions of power think that over-all, kicking 1/4th of owners with mortgages to the curb is going to be somewhat disrupting to society.
1/4th nationwide are basically upside down with negative equity. Kick it hard down and it gets even worse. Why would they keep paying?
