Real Time Economics
103: The number of months it would take to sell off all the foreclosed homes in banks’ possession, plus all the homes likely to end up there over the next couple years, at the current rate of sales.
What they left out of this article, is that they are talking about the best most optimistic scenarios they can create. Reality is likely to turn out to be less optimistic.
I can see why the government loudly proclaims the housing market is in complete recovery every time a new house sells. With the federal governments efforts to HAMPER (Home Affordable Modification Program with Every Resource) the housing market recovery, we can expect a complete housing recovery within the next 100 years. Now how is that for swift and divisive action? What more can you expect from a government that doesn't understand the economic disaster that they created, that they didn't see the economic disaster coming, and that they now proclaim they will fix this economic disaster with the same skills that got us into the economic disaster in the first place?
Don't you just love big government regulation?
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