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The bogus housing rebound narrative bankers believe


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2013 Aug 9, 12:30am   853 views  2 comments

by golfplan18   ➕follow (1)   💰tip   ignore  

http://ochousingnews.com/news/the-bogus-housing-rebound-narrative-bankers-believe?source=Patrick.net

In early 2012 lenders embarked on a new policy of choosing loan modification and squatting over foreclosure. Their goal was to dry up the distressed inventory and create an imbalance between supply and demand that would force buyers to compete over limited inventory and drive prices higher. So far, they have been successful, and all signs are that this policy will continue to work as the banks intended. The truth as I’ve outlined above is not how bankers are portraying their actions in their own publications. According to their version of events, their can-kicking loan modifications and permissive attitude toward...

#housing

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1   HEY YOU   2013 Aug 9, 1:35am  

OCHN:
"Any of you buying homes today who are being forced to pay 30% more than you would have just over a year ago should recognize the social and financial injustice being inflicted upon you by the “struggling borrowers” receiving the loan modifications to stay in houses they can’t afford."

Suckers born every minute. I thought 50% of asking price would be a deal for buyers. Now I see 80% of listing price is the way to go. Let the sellers,flippers & commissioned sales people eat the loss.

Of course everyone has the right to overpay for overpriced houses.

2   hanera   2013 Aug 9, 2:27pm  

How believable is the article? Hope to read more comments.

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