The reality of our current housing market is simple; banks are limiting the supply, and the few buyers in the market are bidding prices higher; this despite the fact that Orange County home resale volumes are very weak by historic norms. I recently reported how the banks transformed must-sell shadow inventory into can’t-sell cloud inventory by stopping their foreclosures on delinquent mortgage squatters. In the process, Banks have become the largest players in the REO-to-rental space.The current state of affairs favor the bank’s interests, so it’s unlikely banks will change their policies any time soon. They are content to amend-extend-pretend with [Read More...]