Foreclosures push housing rebound to 2013 – Bloomberg Businessweek

This article ties into one I re-posted earlier regarding the need for principal write downs to facilitate a true economic recovery.  Currently, negative equity is leading to more and more foreclosures, creating a shadow inventory of homes that is putting downward pressure on home values, and delaying a recovery in home values.  This issue would be addressed by required principal write downs by banks receiving bailout funds.


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