Foreclosure properties are going to start flooding the market.
Because the banks are in such trouble now (again), and possibly looking at another bailout, they are starting to aggressively foreclose and liquidate assets.
Now the issue is, which banks can get their foreclosures to market first. When this has happened in the past, once the first bank starts dumping, all the others start rushing in to do the same so they’re not stuck with a bunch of assets they can’t sell because the buyer pool has dried up. Nobody ever want to be the last one standing when the music stops. It’s now going to be a free for all…
The realtors should be thrilled by this! Lot’s of inventory to sell to investors…
