Okay, this is the most ridiculous one I’ve ever heard. A new report came out claiming that foreclosures are actually good for the housing market. Yep, in another amazing conspiracy theory, the report claims the banks actually create delays in foreclosure resolution on purpose to help their balance sheets. It’s just amazing!
So first of all, let’s get 2 things straight right now:
1) There is DEFINITELY an imbalance in this country with people in homes that are too expensive for them.
2) The BEST solution for this problem is Short Sales, hands down.
There’s just no question about it and I’m shocked such ridiculous studies are still coming out. The entire economy from top to bottom, the banking industry, even thick Uncle Sam have all realized that short sales are the only real salvation of the housing market.
Yet some people insist on just seeing the tip of their nose, or losing the forest for the leaves, or whatever expression floats your boat. So let’s all give up delusions that the whole resolution process needs to be painful and expensive.
I’ve pushed short sales since way before the crisis and I’ll continue to do really well off them long after this crisis is resolved. So will tons of others for that matter – homeowners, investors, banks, etc.
So if you’ve heard differently please speak up because otherwise everyone’s just gotta lay off.