Relevant:
- The monster lurking in the shadow inventory -- 12 million Americans underwater with nearly 6 million delinquent or in foreclosure
- california home prices to fall another 36 percent
- Fitch: Foreclosure rates are now twice last year's
- Banks find way to benefit from robo-signing scandal
- Eclipsing a terrible milestone as home prices fall harder than 1928 through 1933
2012-03-09 — counterpunch.org
"Now that the banks are confident that a settlement will be reached in the $25 billion robo-signing scandal, they've started aggressively processing the mountainous backlog of delinquent mortgages on their books. As the process gains pace, a deluge of REOs will be dumped onto the market pushing down home prices and adding to the 10.7 million properties that are already underwater. Fitch Ratings Agency estimates that home prices could fall another 9.1 percent before the market touches bottom"
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