This should be interesting how it plays out, how long can the banks hold off foreclosing on these defaulters ??
How many more will see this as a good strategy (the defaulting) ??
I was down in OC last weekend , there is very little inventory out there, the banks just are not releasing very much at all, and the short sale seems the way they are going now.
The few organic listings are just crazy (way above 2006 even).
My guess is they are trying to hold off until the economy turns up convincingly,
I would also guess they can do that.
And yea the one thing the fed just has not figured out yet, is how to get you a raise, so I would not count on a lot of inflation (or a raise) unless you just happen to be in gov or under gov contract .
