Good New for Real Estate

Don't get too excited. On the front page of investors business daily is a big article about how banks are hiding 800k of foreclosures on there books and they're not on the market or mls yet. They said its about 22% of all inventory and its not been unleased on the mkt as banks are scared of writing it down and being termed insolvent. So we have many years of problems to work threw. That said theres some great deals out there.

Don't get too excited. On the front page of investors business daily is a big article about how banks are hiding 800k of foreclosures on there books and they're not on the market or mls yet. They said its about 22% of all inventory and its not been unleased on the mkt as banks are scared of writing it down and being termed insolvent. So we have many years of problems to work threw.

So, surely not, you're saying we haven't hit bottom?



I heartily, completely and with great impudence disagr....who said that?......who said that commercial real estate hasn't yet begun to avalanche? That apartments were built on crystal ball prognostifications on which was heaped the dung of overvalued appraisals? That com developers took cheap, easy money, financed out and put 3-10% in their pockets (for rainy days of course).

If I catch that lying beetard, I''ll........

U.S. programs seen too late to stem foreclosure wave | Special Coverage | Reuters


nevermind.

:leaving: