there’s a huge glut of houses on which the owners are in technical default but the bank hasn’t yet seized or sold.
That’s not even the worst of it: a sizable part of that glut consists of houses which, legally, no one owns due to banks cutting corners with the paperwork. This video, The next housing shock, describes the situation. The market is in an extraordinarily warped state right now.
That’s not even the worst of it: a sizable part of that glut consists of houses which, legally, no one owns due to banks cutting corners with the paperwork. This video, The next housing shock, describes the situation. The market is in an extraordinarily warped state right now.