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"In taking a closer look at the reason for cancellations, it did not appear the majority were due to statutory time frames or filing errors, but were more likely due to short sales or successful loan modifications, the company says in its report."
Is there now a shortage of homes for sale?
Over 20 Million Houses Sitting Vacant – Fabian Calvo
http://beforeitsnews.com/economy/2012/12/over-20-million-houses-sitting-vacant-fabian-calvo-2467480.html
Is there now a shortage of homes for sale?
Over 20 Million Houses Sitting Vacant – Fabian Calvo
you mean these?
Can anyone name one person who happily moved from CA to detroit?
when you guys stretch to quote one tinfoil hat db interviewing another one... and not sourcing a single fact they throw out... well, good luck to ya with this level of solid research!
It's clear that there is a concerted effort on the part of banks and the current administration to create an artificially low level of inventory before the election. The billions of dollars in bailout money did not come without any strings attached, banks are happy to comply. The deadline for banks to foreclose on those not making payments on their mortgages will be when rates go up. When interest rates do go up sales prices will have to come down, just use a mortgage calculator to do the math for you. Higher rates equal higher payments. Sellers including banks will have to bring down selling prices to adjust for affordability. Wages have not gone up but have gone down. The Fed is now expected to keep rates low until the end of 2015. They keep moving the goal post for this purpose.
With the media touting a bottom in housing, a temporary bubble will negatively affect those homeowners squeezing themselves into a home now. I guess the administration justifies this based on the fact that inflation will ultimately level things out.
In the meantime, here in Orange County, CA the houses in the 400K range are for the most part horrible, socioeconomically speaking....BTW Yorba Linda also has it's own fair share of empty houses and squatters !
http://www.centralvalleybusinesstimes.com/stories/001/?ID=22506
#housing