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: Mortgage Lender Implode-o-Meter

An Email from Vegas

By Implode-Explode Heavy Industries

``I was listing and selling a lot of REO's and now the banks want to hold back on the inventory ( they say that only 30% of foreclosed properties are on the market) because of fear of further declines in the market. Yes more inventory may cause lower prices, but we would certainly have a lot more sales. What does this really mean at the bottom of the food chain...More jobs...How? Every foreclosure that I have sold in the past 4 years needed lots of work just to be made barely livable. So what does a new owner of one of these homes do...spend lots of money on sinks, bathtubs, paint carpets, landscaping, roofing, appliances etc. Where do they go to get this stuff....Home Depot, Lowes and their local lumvber yards and applicance stores...Is this what they mean by simulating the market and creating jobs. It looks that way to me. ''

Full post as published by Mortgage Lender Implode-o-Meter on February 25, 2011 (boomark / email).