I know that what I have stated is that in 2012 we were going to see quite extraordinary measures that the govt was going to implement in the face of moral hazard. That these measures would serve to keep distressed inventory at a trickle. Furthermore prices are not even close to coming up to what they need to be to get the majority of the seriously underwater folks off the pine and to sell their homes. So we are in no mans land. As long as there is hope for market improvement then the distressed pipe will still drip. Once again, we need some sort of catalyst. Hopefully with the settlement of robosigning we may see some increased reo inventory. However the SD County submarket is tough right now.
Maybe Markmax’s tsunami will come ashore… my bet is not.
