[quote=jpinpb]
In any case, I don’t see foreclosures happening as much as SS. Now that there are no fed or state tax implications, maybe there will be more short sales. From what I’m seeing out on the front of the REOs, some of the banks are listing for loan amounts of the first, some even higher than attempted short sale amounts.[/quote]
Yes, there are still far too many delusional sellers who believe today’s prices should be 2005 levels + xx%.
I hope the PTB grasp the fact that people who are now in their 40s+ don’t have much time to waste on this nonsense. We’re at the point where we’ll have to go from a 30-year to a 20-year (or less) mortgage because we’re running out of time.
They are chasing some of their best buyers out of the market, and making sure that when we do re-enter (if ever), we will be forced to pay even less because we won’t live/work long enough to pay off a 30-year mortgage.
