Thursday, October 15, 2009

More Green Shoots

The last three months were the worst in history for foreclosures. Best part?
The foreclosure crisis may not diminish anytime soon. "The fastest growing area is in the 180 days late-plus category, the most seriously delinquent borrowers," Sharga said. "It's going to be a lingering problem"....

"It's hard to envision [the banks] putting millions on properties up for sale and cratering prices," he said. "Recovery will be slow and gradual. I don't see home prices getting much better until 2013."

"Lingering" is a nice way to put it.

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