Realtor Christina Lazrak, REO specialist for Bank of America and HSBC offers the following from Minyanville
"Shadow inventory," the supply of potential foreclosures in the pipeline at banks like JP Morgan (JPM), Bank of America (BAC), Wells Fargo (WFC) and Citigroup (C), is approaching 10 million homes. And with the settlement between big mortgage servicers and state attorney generals over the robosigning debacle behind us, it is true that lenders are again foreclosing at rapid rate.
But what about demand? Buyers of foreclosed homes are literally lining up at auctions to outbid each other
Five Reasons The Housing Market Will Not Crash (Again) | Business News | Minyanville.com
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