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News Link • Housing

Time To Sell Foreclosed Homes Hits Record

• zerohedge.com
 Those who recall about the implicit housing subsidy we discussed when we coined the term "foreclosure stuffing" which is merely the well-planned systemic bottleneck to clearing foreclosed properties already in the system, and thus artificially reduce housing supply will be happy to learn that according to RealtyTrac the average time for a foreclosed property to sell just hit a record at nearly 400 days across the entire nation.
 
And for those curious what is really going on in the housing market when stripping aside all the artificial supply and demand-side stimuli, here is one of the best summaries courtesy of housing expert Marc Hanson (by way of Doug Kass):
 
 

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