Those are good questions Scarlett. I don’t really have many answers for you. Agreed that we have seen strong price recovery, especially over the past 6 months. Yes there are still alot of people underwater but nowhere near as many as there were in 2009. Furthermore that number is being whittled down daily. No the banks are not holding onto foreclosures as well. The supposed tsunami believers who I always said were grasping at straws are totally empty handed. I didn’t quite get your last 3 lines. The low inventory is bad, as bad as it has ever been. Even in the bubble days we didn’t have inventory like this. It becomes challenging for everyone. It makes the decision making process border on irrational for some. Buying becomes fed by fear rather then logic. Appraisals become much harder becaue prices gap up rather then appreciate normally. It is just a situation that most buyers should not participate in unless they are adequately prepared.
