gn
I agree that many homes will end up back with the banks. The whole foreclosure process spans many months and frequently more than 1 year from the time a missed payment turns into an REO on the market. The banks are rational sellers but are always looking behind at past market conditions rather than ahead at what might be coming. Throw in relatively low inventory and it could be some time before they fell the need to radically reduce prices.
I dont disagree with you or any of the other posters that it s coming but all I keep hearing “It’s coming”. I would really like to see someone lay out a realistic assumption as to how it could play out on the street level.
