As the markets slowly burn off the Foreclosures

Interesting points:

1) Up to 7,000,000 homes in ‘Shadow Inventory’

2) Most sales in the U.S. were for homes less than $250,000.

3) This is the ‘new normal’…this market, where Foreclosures and Short Sales dominate the sales.

4) Home price appreciation is a thing of the past for the next 5-10 years as the markets slowly burn off the REOs etc.