2012 and 2013 Just May Bring More REO Inventory

So, we're happy that Hope Now has been able to get a million loan mods done. We're happy that the jobless rate is decreasing. We're happy that the interest rates are still ridiculously low....

BUT, MY, OH MY, WE SHOULD BE ECSTATIC THAT NEWS  I'M READING NOW SAYS THAT REO'S WILL BE A COMING IN 2012 AND 2013!!


"There is also a potential risk that banks tighten lending standards even further if the European debt crisis deepens," JPMorgan Securities analysts said. "While housing inventory dipped further, there is evidence that this temporary downward trend is about to change direction. Liquidations are expected to pick-up next year and peak in 2013."


I take the bad with the good, but I focus on the good! And, I've been saying for quite some time that until we get through all the REO's (bank owned properties) we won't start to see any appreciation in home values. So, if the Chase analyst is anywhere near correct, that could really help get some values moving in an upward trend.


I'm thinking we are close to the bottom people.