Can someone in Real Estate and/or Banking tell us how many foreclosures are being held back from advancing due to the governments pressure.
Look at the site drhousingbubble.blogspot.com. He has actually done the research in the LA area. The number of homes in the shadow inventory versus the multiple listing index is around 500 percent! This includes notices of default, houses currently in foreclosure and houses being held off the market so as to not depress neighborhood values. His research is solid.