03-19-2012 06:12 PM - edited 03-20-2012 03:48 PM
Banks are purposely keeping inventory off the books thru the extensive use of such sundry & diverse SHENANIGANS as
1) allowing deadbeat borrowers to SQUAT indefinitely without making any payments.
2) dragging out foreclosure proceedings as looooooooong as possible
3) simply boarding-up empty houses and letting them ROT.
In the meantime, BofA is INSOLVENT. As are MOST of the zombie banks that hold these mortgages.
If you want to TRULY understand what's going on in the U.S. real estate market, THIS (and any OTHER realtwhore website) is definitely NOT the place to ask!