I would look very closely at who has benefited from the various bailouts that have taken place thus far. Certain banks and some companies.
Home owners have been ,and are in , foreclosure in absolutely all-time record levels. The various talk of loan modifications etc…has mostly been talk, not action. As Rich has shown, shadow inventory looks to be very real. I dont see this as saving the home owners at all. These are delaying tactics, but not actually saving homeowners. Many banks now look to be headed south at this time as well.
