Housing Bubble Smackdown: Bigger Crash Ahead

Housing Bubble Smackdown: Bigger Crash Ahead Huge "shadow inventory" by Mike Whitney

Global Research, April 21, 2009 If regulators were deployed to the banks that are keeping foreclosed homes off the market, they would probably find that the banks are actually servicing the mortgages on a monthly basis to conceal the extent of their losses. They'd also find that the banks are trying to keep housing prices artificially high to avoid heftier losses that would put them out of business. One thing is certain, 600,000 "disappeared" homes means that housing prices have a lot farther to fall and that an even larger segment of the banking system is underwater.