With more claims the housing market has hit bottom, there are growing indications that this is all based on a convenient fiction around artificially reduced supply. A little-noticed item at AOL Real Estate, based on the same industry data banks and analysts use to tout a recovery, introduce us to the scam in “shadow REO” — inventory deliberately held off the market to hide loses and artificially jack up prices.
The Great Housing Swindle: Shadow REO Artificially Boosting Prices |
| By: David Dayen Monday July 16, 2012 9:40 am |


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