I was thinking the same thing. Rather than an abrupt, sharp, shocking drop, they are dragging this out for years as the declines continue slowly w/an occasional little rise to raise one’s spirits and give them hope, but nevertheless continuing down. All the while, the government will claim to have tried their best to help.
I’m not seeing much organic supply. The few that were not short sales or REOs were asking more than comps and were listed for a very long time. And some of those returned on the market w/NODs and/or short sales.
Not saying there isn’t any at all. They maybe are one or two here and there. Certainly not a high percentage.
