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"Boomerang Foreclosures" Are Back As Bernanke's Second Housing Bubble Begins To Pop

 
Anonymous Coward
User ID: 11791192
United States
02/14/2013 06:06 PM
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"Boomerang Foreclosures" Are Back As Bernanke's Second Housing Bubble Begins To Pop
As a result of this latest artificial intervention (the first one of course being the Robosigning fiasco which hit in November 2010 and which resulted in the wristslap mortgage settlement whose sole purpose was, again, to give a legitimate reason to boost shadow inventory) preventing underwater properties in the state with the most impaired mortgages and the most "underwater" housing, from hitting the market, the outcome is simple: a direct, explicit subsidy by US banks to prop up the housing market.

[link to www.zerohedge.com]

So, maybe this is the real reason the pope resigned eh?

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