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A Great American Tragedy

By Tim Stephens

Real Estate Agent with kwElite Omaha 20090493

January 05, 2011 01:12 AM

This unfortunately, is just the tip of the iceberg.
The real problem lies in the "Shadow Inventory" of banks.
The middle class is in the meat grinder right now in the U.S.
It is a travesty that our "Leaders" (I use that term lightly) have created.

» U.S. Foreclosure Inventory at 7.7 Times the Historic Average

shortsaledailynews.com

Anyone in real estate is aware foreclosure inventory levels are extremely high, but stumbling upon this stat—that the foreclosure inventory is at 7.7 times the historic average—does make one pause. Lender Processing Services says foreclosure inventory has risen for five straight months.

--
Tim Stephens
Keller Williams Omaha
http://TimStephensOnline.com
402-321-3665
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Pocono Luxury Homes The Jeff Rickert Team

RE/MAX Property Specialists - Pocono Lake, PA

Poconos Luxury Homes

Good luck in your area.

Much success to you in 2011.

Jan 05, 2011 01:12 AM

Bob Jakowinicz

National Realty Centers Livonia--Bob Jakowinicz - Livonia, MI

Michigan Real Estate Agent-- MI Real Adventures

Tim, we have been down so long here in the Detroit Metro area hard to remember anything otherwise. Things have been trying to improve but looks like going to be a long time as we are in such a deep mess all over the place

Jan 05, 2011 01:15 AM

Tim Stephens

kwElite Omaha - Omaha, NE

Omaha Real Estate

It really is sad walking into SOME of these situations.

Granted, some people created their own mess, but in general what I am seeing is folks that lost jobs, got sick or divorced, (usually over money) that are losing their homes.

It is devestating our nation and creating a real mess for our children.

Jan 05, 2011 01:25 AM

A Great American Tragedy

This unfortunately, is just the tip of the iceberg.
The real problem lies in the "Shadow Inventory" of banks.
The middle class is in the meat grinder right now in the U.S.
It is a travesty that our "Leaders" (I use that term lightly) have created.

Comments(3)

Tim Stephens

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This unfortunately, is just the tip of the iceberg.The real problem lies in the "Shadow Inventory" of banks.The middle class is in the meat grinder right now in the U.S.It is a travesty that our "Leaders" (I use that term lightly) have created.

Comments(3)

Tim Stephens

Service Areas

Real Estate Resources

Recent Posts

Additional Information

This unfortunately, is just the tip of the iceberg.
The real problem lies in the "Shadow Inventory" of banks.
The middle class is in the meat grinder right now in the U.S.
It is a travesty that our "Leaders" (I use that term lightly) have created.