Heard this morning from a very reliable source that REO assignments are going to double for the 2nd quarter (Apr/May) of the year. Also, we should be seeing even more investment, foreign and domestic, in tangible assets such as real estate due to the oversupply of money and lack of confidence in financial markets. Would not be surprised if we see a shortage of inventory towards the end of the year. Especially since the latest policy of rental leases in lieu of foreclosure, recent short sale appeal and more foreign and local real estate investment due to oversupply of money.
If one looks at the fact that a halt to foreclosure activity was instituted by some of the big guns, this in my mind does nothing more than constipate the system. Once lifted that will be a large backlog of cases that will proceed through the courts, and eventually have to end up on market. Halting foreclosure activity will only bottle neck the out flow.
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